A Delaware judge’s ruling that plaintiff attorneys in a case against Elon Musk were entitled to hundreds of millions of dollars in legal fees has prompted renewed calls for tort reform on social media and from a legal expert who spoke to Fox News Digital.
Chancellor Kathaleen St. Jude McCormick ruled earlier this month that Musk is not entitled to receive a multibillion-dollar compensation package even though Tesla shareholders had approved it. McCormick also rejected a massive fee request by plaintiff attorneys, who argued that they were entitled to legal fees in the form of Tesla stock valued at more than $5 billion. However, McCormick did rule that the attorneys were entitled to a fee award of $345 million.
The record fee request was made by investor Richard Tornetta on behalf of the three law firms that represented him in the lawsuit against Musk’s compensation plan, which is believed to be the largest among CEOs of publicly traded companies in the U.S.