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Lawyers seeking $6 billion fee from Elon Musk

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The legal team responsible for voiding Elon Musk’s mammoth $56 billion compensation package is now seeking an unprecedented $6 billion in legal fees.

The three law firms involved justified their request in a filing with the Court of Chancery in Delaware, citing the monumental effort and risk involved in challenging Musk’s compensation package, which was deemed excessive by a Delaware judge in January.

“We recognise that the requested fee is unprecedented in terms of absolute size,” the firms stated, adding that the fee equates to an astronomical hourly rate of $288,888.

Musk swiftly condemned the request as “criminal,” taking to his platform X, formerly known as Twitter, to express outrage: “The lawyers who did nothing but damage Tesla want $6 billion.”

Neither Tesla nor Musk’s attorney have responded to requests for comment.

Pay packet

The legal battle stems from a lawsuit filed by shareholder Richard Tornetta in 2018, which led to the nullification of Musk’s lucrative pay package.

The electric vehicle manufacturer could be on the hook for the hefty fee as it stands to benefit from the return of Musk’s compensation, which includes a staggering 266 million shares.

“This structure has the benefit of linking the award directly to the benefit created and avoids taking even one cent from the Tesla balance sheet to pay fees,” the lawyers argued, emphasising that the fee would be tax-deductible to Tesla.

Judge Kathaleen McCormick, overseeing the case, had previously described Musk’s pay as “unfathomable” in her ruling.

However, Tesla may contest the fee, given a similar fee request in a separate case concerning pay for its directors.

Legal compensation

The proposed fee, if granted, would set a new record in legal compensation, surpassing even the $688 million awarded to attorneys in a 2008 securities fraud case involving Enron Corp.

As the Delaware Supreme Court weighs an appeal regarding a $267 million fee in a case involving Dell Technologies, the issue of attorney compensation in high-stakes litigation continues to be a subject of debate.

Critics argue that as settlements and judgments increase in size, attorneys should receive a declining percentage to prevent overcompensation.

The legal team behind the Musk case contends that their requested fee represents around 11% of the judgment.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Airbus A320 fleet faces software upgrade due to risk

Airbus alerts A320 operators to urgent software fix after JetBlue incident raises safety concerns

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Airbus alerts A320 operators to urgent software fix after JetBlue incident raises safety concerns

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In Short:
– Airbus warns over half of A320 fleet needs software fixes due to potential data corruption risks.
– Affected airlines must complete upgrades before next flights, with operational disruptions anticipated during a busy travel season.

Airbus has issued a warning regarding its A320 fleet, indicating that over half of the active jets will require a software fix.

It follows a recent incident involving a JetBlue Airways aircraft, where “intense solar radiation” was found to potentially corrupt data crucial for flight control system operation.

The European plane manufacturer stated that around 6,500 jets may be affected. A regulation mandates that the software upgrade must occur before the next scheduled flight.

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Operational disruptions for both passengers and airlines are anticipated. The issue arose from an incident on October 30, where a JetBlue flight experienced a computer malfunction that resulted in an uncommanded descent. Fortunately, no injuries occurred, but the malfunction of an automated computer system was identified as a contributing factor.

Airlines, including American Airlines Group, have begun to implement the required upgrades.

The majority of affected jets can receive an uncomplicated software update, although around 1,000 older models will necessitate an actual hardware upgrade, requiring grounding during maintenance.

Hungarian airline Wizz Air has also initiated necessary maintenance for compliance, potentially affecting flights. This announcement has surfaced during a busy travel season in the US, with many facing delays due to other factors as well.

Regulatory Response

The European Union Aviation Safety Agency has mandated that A320 operators replace or modify specific elevator-aileron computers. The directive follows the JetBlue incident, where a malfunction led to a temporary loss of altitude.

Airbus’s fix applies to both the A320 and A320neo models, representing a vital response in ensuring aircraft safety.


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China blocks ByteDance from using Nvidia chips in new data centres

China blocks ByteDance from using Nvidia chips, tightening tech control and pushing for domestic AI innovation amid U.S. restrictions.

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China blocks ByteDance from using Nvidia chips, tightening tech control and pushing for domestic AI innovation amid U.S. restrictions.


Chinese regulators have moved to block ByteDance from deploying Nvidia chips in newly built data centres, tightening control over foreign technology used by major Chinese tech giants. The decision comes after ByteDance made substantial purchases of Nvidia hardware amid fears of shrinking supply from the United States.

Washington has already restricted the sale of advanced chips to China, allowing only weakened versions into the market. Beijing’s latest move reflects its push to reduce dependence on U.S. technology and accelerate home-grown AI innovation.

The ban places operational and financial pressure on ByteDance, which must now work around a growing pile of Nvidia chips it is no longer allowed to use. Domestic suppliers like Huawei are expected to step in as China intensifies its pursuit of tech self-reliance.
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OpenAI launches shopping research tool for ChatGPT users

OpenAI launches shopping research tool to enhance e-commerce experience ahead of holiday season spending boost

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OpenAI launches shopping research tool to enhance e-commerce experience ahead of holiday season spending boost

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In Short:
– OpenAI’s “shopping research” tool helps users find detailed shopping guides tailored to their preferences.
– Users can access Instant Checkout for purchases while ensuring user chats are not shared with retailers.
OpenAI has launched a new tool called “shopping research,” coinciding with an increase in consumer spending ahead of the holiday season.This tool is aimed at ChatGPT users seeking comprehensive shopping guides that detail top products, key differences, and the latest retailer information.

Users can customise their guides based on budget, features, and recipients. OpenAI notes that while the tool takes a few minutes to generate responses, users can still use ChatGPT for quicker queries like price checks.

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When users ask specific prompts, such as finding a quiet cordless stick vacuum or a gift for a niece who loves art, the shopping research tool will appear automatically. It can also be accessed via the menu.

Shopping Research

OpenAI has been expanding its e-commerce capabilities, with the introduction of the Instant Checkout feature in September, enabling purchases directly through ChatGPT.

Soon, users of the shopping research tool will also be able to use Instant Checkout for making purchases.

OpenAI assures that shopping research results are derived from publicly available retail websites and will not disclose user chats to retailers, although it does warn that inaccuracies may occur in product availability and pricing.

Shopping research is now available to OpenAI’s Free, Go, Plus, and Pro users logged into ChatGPT.


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