Tesla Inc TSLA CEO Elon Musk on Friday slammed the lawyers who demanded company stock worth billions for successfully contesting his 2018 pay package. The billionaire’s retort came on the heels of an equally harsh reply to the demand from Tesla at court.
What Happened: In a filing with the Delaware Court of Chancery, Tesla said that the legal team, which represented Tesla shareholder Richard Tornetta, should be paid as little as $13.6 million for their work of contesting Musk’s 2018 pay package, reported Financial Times.
Musk’s pay package, with a value of $56 billion as of the time of award, was rescinded by the court earlier this year as “an unfathomable sum.”
The lawyers are now requesting that they be paid a legal fee of $5.2 billion for the lawsuit in company shares and neither Tesla nor Musk are willing to comply. The request was initially valued at $5.6 billion.
In the court filing, the company alleged that the proposed…
