Lawyers who overturned Elon Musk’s pay package demand $5.6 billion fee
“We are ‘prepared to eat our cooking,’” the Tesla plaintiff attorneys wrote in the court filing, arguing the sum is justified because they worked purely on a contingency basis for more than 5 years.
Transcript
00:00 A group of lawyers who spent over five years arguing that Elon Musk's $55 billion Tesla pay package is illegal are now asking for $5.6 billion in company stock as legal fees.
00:11 The lawyers represented Tesla shareholders and won the case in January.
00:14 But they are now requesting billions of dollars and said, "We are prepared to eat our cooking."
00:18 The attorneys say they deserve the money because they worked for over five years without pay and would have gotten nothing if they lost.
00:24 The requested $5.6 billion represents about 11 percent of the value of Musk's compensation package that the judge ruled illegal.
00:31 And because this request doesn't affect Tesla's finances and is also tax deductible, the lawyers are also asking for $1.1 million in expenses.