Judge approves settlement in suit that Tesla's board overpaid themselves
A judge has approved the settlement that finally wraps up a case brought against Tesla by the Police and Fire Retirement System of the City of Detroit. The shareholders argued that Tesla's board of directors overpaid themselves between 2017 and 2020.<br /> Chancellor Kathaleen McCormick of Delaware's Court of Chancery approved the settlement yesterday. Tesla's directors will be required to return roughly $277 million in cash and $459 million in stock options, as well as forgoing stock options for 2021-23 worth $184 million. McCormick also awarded $176 million in fees and costs to the trio of law firms that brought the case on a contingency basis.<br /> Some of the notable directors named in the suit include Chair Robyn Denholm, James Murdoch (son of Fox News owne [...]
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