Civil Plaintiff

Tesla Directors Will Return $735 Million to the Company to Settle a Lawsuit Filed by Shareholders

Tesla directors will return $735 million to the company to settle claims they grossly overpaid themselves in one of the largest shareholder settlements of its kind, according to a Monday filing in a Delaware court.

The settlement resolves a 2020 lawsuit by a retirement fund which that holds Tesla (TSLA) stock and challenged stock options that were granted to Tesla (TSLA) directors starting in June 2017.

The settlement does not impact the $56 billion compensation package of Elon Musk, which is being challenged by shareholders in a separate lawsuit that went to trial last year. A ruling is expected soon in the Musk case.

Read the source article at CNN Business

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