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Lawyers who sunk Elon Musk's big pay package are now asking for nearly $6 billion worth of Tesla stock. Musk doesn't seem happy.

Elon Musk
Advertisers have fled X in recent months following a series of controversies surrounding its owner Elon Musk.Antonio Masiello
  • Lawyers for a Tesla shareholder successfully sunk Elon Musk's $56 billion pay package from Tesla.

  • Now they're asking a judge for about 11% of the Tesla shares, worth about $6 billion, for attorneys fees.

  • Musk called the ask "criminal."

Lawyers for a Tesla shareholder successfully argued in a Delaware court that Elon Musk doesn't deserve a $55-billion compensation package for his work at the EV company.

Instead, some of that compensation package should go to them in attorney fees, the lawyers argued to a Delaware judge.

The attorneys argued in a Friday court filing that the fee for their litigation work amounts to about 11% of the pay package. That amounts to about $5.96 billion worth of Tesla shares based on the current price of the company's stock at $202.64 per share.

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Chancellor Kathleen McCormick of the Delaware Chancery Court now has to decide how much of the compensation package can go to attorneys' fees.

Tesla and Musk can still choose to appeal the overall decision to void the CEO's stock options.

According to the Journal, plaintiff attorneys usually get one-third of a verdict or settlement amount. The attorneys argued in their filing that they were not asking for the "33% of the quantifiable conferred benefit" based on "well-established precedent."

"Plaintiff's Counsel have not been paid for their work, nor have any of their costs or expenses been reimbursed, and litigating this Action required the allocation of a substantial amount of Plaintiff's Counsel's time and resources over six years, including considerable out-of-pocket expenses," the attorneys wrote.

Musk, unsurprisingly, is not happy with the lawyers' demand.