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Tesla shareholders will appear in court on Monday to argue that an unprecedented request for more than $7 billion in attorneys' fees to be paid by the company is "outlandish," the latest twist in a legal showdown over Musk's $56 billion pay package.
It’s a real-life lawyer joke,” John Reed, a partner at DLA Piper, who represents Tesla, told Chancellor Kathaleen McCormick during the day-long hearing in the Delaware Court of Chancery. An expert witness for Tesla described the fee request as an “unjustifiable windfall”.
Legal teams for Tesla and a shareholder clashed in court on Monday over the value of a lawsuit that successfully challenged CEO Elon Musk’s enormous pay package and a request for the company to pay a record legal fee worth $7 billion.