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Tesla persuades court to slash legal fees in suit over director pay - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Tesla persuades court to slash legal fees in suit over director pay D&O , Risk Management Feb 2, 2026 (Reuters) — The Delaware Supreme Court handed Tesla a victory on Friday, slashing by more than $100 million the legal fees owed to shareholder lawyers who successfully sued directors at Elon Musk’s electric car company for overpaying themselves. The court said Tesla must pay $70.9 million to lawyers who represented the Detroit firefighter and police pension fund that led the case, 60% less than the $176.1 million awarded by a Delaware Chancery Court judge. Friday’s decision said the judge overvalued the settlement when determining the fee. The decision came at a time of increasing criticism from professors and lawyers who represent corporate boards over legal fees in Delaware courts, including a $267 million award in 2024 in a case involving Dell Technologies. Delaware’s bar association is preparing recommendations for state lawmakers on possible changes. In the Tesla case, directors including Chair Robyn Denholm and James Murdoch agreed to return about $277 million in cash and millions of stock options to the company. Lawyers for the shareholders valued the settlement at $919 million, which was the basis for their fee request. Tesla was responsible for the fees because it benefited from the settlement. But the state Supreme Court said the fees were inflated because the intrinsic value of the returned stock options should have been excluded when assessing the value of the settlement to the company. Musk, the world’s richest person, was not part of the settlement and has defended his record compensation in a separate lawsuit. Related News Liberty unit taps new aviation leader February 2, 2026 China considers $29B bond sale to recapitalize insurers February 2, 2026 Global reinsurers seek approval to operate in Indian hub February 2, 2026 Sukoon’s profit jumps 47% in 2025 February 2, 2026 SCOR expands cyber capacity for large firms February 2, 2026 Data centers biggest reinsurance opportunity: Report February 2, 2026 South Korean insurers’ profits drop 20% February 2, 2026 Regulator clears merger of two major insurers February 2, 2026 Albanian insurers post 10% premium growth February 2, 2026 Facebook-f X-twitter Linkedin-in Business Insurance is a singular, authoritative news and information source for executives focused upon risk management, risk transfer and risk financing. Never miss important news: Become a Business Insurance Online subscriber today Subscribe Now Information About Us Contact Advertise Privacy Policy Terms & Conditions Copyright 2026. BUSINESS INSURANCE HOLDINGS Member, Beacon International Group, Ltd.
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