Tornetta Vs Musk case lawyer deserves only $29 million legal fees not $5.1 billion
$Tesla(TSLA.US$ $BYD COMPANY(01211.HK$ $NIO Inc(NIO.US$ $XPeng(XPEV.US$ The article reported that longtime Tesla shareholder Amy Steffens has secured legal counsel to challenge the plaintiff’s fee request in the Tornetta vs. Musk et al. case. The Tesla shareholder’s filing argued that the plaintiff’s fee request of more than $5.1 billion worth of TSLA stock is not just unjustifiable — it is harmful to regular shareholders of the electric vehicle maker. Tornetta’s legal team argued that they deserve over 29 million TSLA stock as their legal fees.
My Take: The above legal challenge showed that Tesla shareholders are doing everything to stop the lawyer who represented the Tronetta vs Musk case from getting paid. The challenge may last for a few years and reduce the legal fee by 99.9%. But what is most important is to understand why Elon Musk's 2018 pay package is justified and to ratify it through the 13 June 2024 Tesla Shareholders Meeting.
Sources:
$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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