Delaware Valley Journal on Elon Musk's 2018 compensation package case: "This case is a textbook example of the need to limit on how much lawyers can take from the companies they target. Businesses paid more than $529 billion in legal fees and related costs in 2022. That’s 2.1% of the U.S. gross domestic product.

The problem is particularly acute in Delaware. Walter Olson, a legal scholar and senior fellow at the libertarian Cato Institute, said the current Delaware rules allow lawyers to cash in by, in essence, hiring themselves to litigate a case.

“You have a system that follows sort of dubious rules … to make lawyers very rich, totally aside from whether the outcome was actually a good one for shareholders,” Olson said. Olson argued there needs to be a better way to protect shareholder rights in class-action lawsuits. “It just doesn’t seem to line up with what we would want if we were the shareholders being protected.”

Source: https://t.co/05SX00rm8p