The legal team for the shareholder who sued to shut down Tesla CEO Elon Musk’s $56 billion pay package have upped their already record-breaking demands for compensation.
The legal team for the shareholder who sued to shut down Tesla CEO Elon Musk’s $56 billion pay package have upped their already record-breaking demands for compensation.
This is a shitty article. Does someone have the full story?
If the guy that initiated the lawsuit had only 9 shares, the decision was ultimately overturned when stockholders voted to reinstate Musk’s compensation package, and the lawsuit didn’t do any tangible thing to create value for the shareholders, why would anyone be on the hook for paying this firm’s legal bill other than the guy that initiated the lawsuit?
No one deserves to make the kind of money Musk is pulling down, but I can at least see an argument about him being in a leadership position at a company that is generating a lot of capital because that’s how our shitty system works. The lawyers are trying to have shareholders pay their fees based on present value of stock when they had no impact on how that stock got to that price, and Musk’s compensation package means the stock the lawyers are claiming to have saved from going to musk… are still going to Musk…
What am I missing?