Tesla shareholder files $56 billion lawsuit against Musk

Tesla shareholder Richard Tornetta has filed a lawsuit against Tesla CEO Elon Musk to return the $56 billion worth of stock he was given because he was a part-time CEO of the company. Tesla CEO Elon Musk, who has been on the agenda lately, has made headlines this time with a lawsuit news. Tesla shareholder Richard Tornetta, in the $56 billion lawsuit he filed against Musk, argued that Musk was a part-time CEO of Tesla and was not focused enough. Claiming that Musk was given $56 billion worth of stock in return for his success if the company met its goals, Tornetta announced that the $56 billion paid should be canceled and paid back to the company. The first day of the week-long hearing in Wilmington, Delaware also included testimony from Ira Ehrenpreis, a Tesla director since 2007. Ehrenpreis, who chaired the committee that developed the compensation package, said, "We never had a regular working environment with Elon." Ehrenpreis also said Musk and the board are focused on achieving goals, not time spent at Tesla. Musk is expected to testify in that case on Wednesday. Legal experts say the case will be tough for Musk.