Tesla directors to pay up to $919 million to settle claims they overpaid themselves | TechCrunch

A Delaware judge has approved a settlement that will see Tesla directors return up to $919 million to the automaker due to overpayment allegations.

Directors will pay back stock and options worth up to $735 million and forgo three years of alleged pay totaling $184 million.

Chancellor Kathaleen McCormick awarded $176 million in fees and costs to the three law firms that brought the case, with Tesla seeking to cap it at $64 million.

This resolution stems from a 2020 lawsuit by the Police and Fire Retirement System of the City of Detroit, which challenged director compensation as excessive from 2017 to 2020.

Read at TechCrunch