Tesla directors to pay up to $919 million to settle claims they overpaid themselves

Settlement Details - A Delaware judge approved a settlement requiring Tesla directors, including Chair Robyn Denholm, Oracle founder Larry Ellison, Kimbal Musk, and James Murdoch, to return up to $919 million to the automaker [1] - The settlement resolves allegations that the directors overpaid themselves from 2017 to 2020 [1][2] - The directors will pay back stock and options worth up to $735 million and forgo three years of pay allegedly worth $184 million [2] Legal Fees and Case Background - Chancellor Kathaleen McCormick awarded $176 million in fees and costs to the three law firms that brought the case to court on a contingency basis [3] - Tesla has requested the judge to cap the legal fees at $64 million [3] - The case was initiated in 2020 by the Police and Fire Retirement System of the City of Detroit, challenging the excessive director compensation from 2017 to 2020 [2] Judge's History with Tesla - Chancellor Kathaleen McCormick previously ruled against Tesla CEO Elon Musk's exorbitant pay package, despite shareholders voting to "re-ratify" the deal [3]