The settlement requires Tesla's board of directors to return about $277 million in cash and $459 million in stock options due to overpayment claims between 2017 and 2020.
Chancellor Kathaleen McCormick emphasized that the settlement, while not admitting wrongdoing, addresses the severe allegations of excessive compensation among Tesla's senior directors.
The trio of law firms responsible for the lawsuit received a total of $176 million in fees, awarded by the court, reflecting the significant legal efforts required to bring the case forward.
Notable directors in the lawsuit included Chair Robyn Denholm and James Murdoch, highlighting the high-profile nature of the individuals involved in this compensation dispute.
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