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Started By
Message
Lawyers: how did the judge arrive at $345 million as a reasonable fee?
Posted on 12/3/24 at 7:53 am
Posted on 12/3/24 at 7:53 am
Is this simply number of hours times hourly rate calculation?
15
Posted on 12/3/24 at 7:54 am to Meauxjeaux
It's a lodestar calculation which includes many factors.
Posted on 12/3/24 at 7:55 am to Meauxjeaux
quote:
Is this simply number of hours times hourly rate calculation?
No. I haven't read the opinion but someone posted a snippet earlier. That hourly calculation is the Lodestar method and her award is like 23.5x (IIRC) Lodestar.
Derivative suits are $$$$$$$
Class action suits are Walmart and Derivative suits are Target
Posted on 12/3/24 at 7:56 am to Meauxjeaux
When they know they'll lose the appeal they tend to go batshit crazy
In all honesty it all seems random when they make these determinations
In all honesty it all seems random when they make these determinations
Posted on 12/3/24 at 7:56 am to Meauxjeaux
quote:
$345 million as a reasonable fee?
Its not. The industry is broken.
Posted on 12/3/24 at 8:02 am to RogerTheShrubber
Sorry but what are we talking about here?
Posted on 12/3/24 at 8:03 am to LaMigra
quote:
Sorry but what are we talking about here?
The lawyers who handled the derivative suit against Tesla for Elon's compensation were awarded $354M in legal fees for winning the suit.
Posted on 12/3/24 at 8:03 am to LaMigra
quote:
Sorry but what are we talking about here?
How the legal industry is the biggest crony operation in history.
Posted on 12/3/24 at 8:18 am to Meauxjeaux
quote:that's how much NY has spent trying to fabricate a crime.
Lawyers: how did the judge arrive at $345 million as a reasonable fee?
Posted on 12/3/24 at 8:23 am to Meauxjeaux
Tree fiddy was too obviously anally retrieved so they tweaked it to tree forty five.
Posted on 12/3/24 at 8:26 am to Meauxjeaux
It’s just a BS scam. Law is not a real profession.
Posted on 12/3/24 at 8:30 am to Meauxjeaux
They added a 25x multiplier to the hours worked. I think I saw 19,000 hours worked at 13million or something like that.
The judge is how.
The judge is how.
Posted on 12/3/24 at 8:31 am to SlowFlowPro
quote:
The lawyers who handled the derivative suit against Tesla for Elon's compensation were awarded $354M in legal fees for winning the suit.
And the democrat activist judge went against the will of a supermajority of the shareholders. Well done, democrat activist judge.
Posted on 12/3/24 at 8:32 am to Meauxjeaux
How did Elon harm these lawyers?
Posted on 12/3/24 at 8:47 am to roadGator
They had to work hard.
Posted on 12/3/24 at 9:14 am to SlowFlowPro
For a suit brought by a guy with 9 shares. This cases is obviously brought to make money for lawyers, the Biden connections here run deep.
Posted on 12/3/24 at 9:27 am to SlowFlowPro
quote:
That hourly calculation is the Lodestar method and her award is like 23.5x (IIRC) Lodestar.
Is there complete discretion on the multiplier? Could she have done 42x?
It's not a punitive damage calculation (other than in her mind I suppose).
Are there any caps on this?
Posted on 12/3/24 at 9:34 am to Meauxjeaux
The "funny" thing about this is when the dust settles and Musk is paid (because he is absolutely entitled to compensation [remember, he agreed to forego a salary/direct compensation in exchange for stock options]), it will likely be MORE expensive to the corporation that the original agreement.
Posted on 12/3/24 at 9:41 am to Meauxjeaux
quote:They rounded up from zero - the amount that should have been awarded.
Lawyers: how did the judge arrive at $345 million as a reasonable fee?
Posted on 12/3/24 at 12:29 pm to Meauxjeaux
quote:
Is there complete discretion on the multiplier? Could she have done 42x?
In the brief clip posted, the judge cited a case where one multiplier more than double the one in this case was ruled proper.
quote:
Are there any caps on this?
I'm sure there are cases where this is discussed but it's going to be case by case.
quote:
It's not a punitive damage calculation
No this is just a legal fee calculation, not a damage calculation.
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