Tesla persuaded the Delaware Supreme Court to reduce the legal fees in the director compensation lawsuit.
The Delaware Supreme Court delivered a victory for Tesla on Friday by reducing the legal fees owed to shareholder lawyers by over $100 million. These lawyers had successfully sued Tesla's directors, accusing them of paying themselves excessive compensation. The court ruled that Tesla must pay $70.9 million to the lawyers representing Detroit firefighters and police pension funds leading the case, which is 60% less than the $176.1 million judgment from the Delaware Chancery Court. The Friday ruling stated that the judge had overestimated the settlement amount when determining the fees.
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