Tesla Directors Settle Shareholder Suit, Return $735 Million

Tesla directors have agreed to return $735 million to the company to settle a shareholder lawsuit that accused them of grossly overpaying themselves. The settlement involves the return of 3.1 million Tesla stock options and does not affect Elon Musk's $56 billion compensation package, which is being challenged separately. The directors, including Larry Ellison, also agreed to forgo compensation for 2021-2023 and change the way compensation is determined. The settlement is one of the largest ever for a derivative case in the Court of Chancery.