And finally… fully charged

Lawyers who successfully sued Tesla’s board of directors over excessive compensation are to seek more than $10,000 per hour in costs.

A dozen Tesla board members agreed to repay $735 million as part of a settlement following the 2020 lawsuit brought by Tesla shareholders, as well as to forgo compensation between 2021 and 2023 and allow an independent review of their compensation packages.

The legal team who took the lawsuit is now seeking $229 million in fees, working out to $10,690 per hour, The Messenger reports.

If approved, it is understood this would be among the most expensive legal bills in a shareholder lawsuit in US legal history.

Tesla is expected to contest the bill, which will be determined at a hearing later this month.

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