Shareholders alleged that current and former members of the board grossly overpaid themselves between 2017 and 2020.
July 19, 2023 at 01:46 PM
2 minute read
The original version of this story was published on New York Law Journal
Tesla’s Board of Directors on Monday agreed to return $735 million to the electric vehicle company to settle claims the directors overcompensated themselves for years.
The shareholder settlement is one of the largest of its kind, according to court papers.
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Elon Musk, chief executive officer of Tesla Inc., arrives at court during the SolarCity trial in Wilmington, Delaware, on Tuesday, July 13, 2021. Photo: Samuel Corum/Bloomberg
