Analysis-Could the $6 billion legal fee in Musk's Tesla pay case be reasonable? [Yahoo! Finance]
Southern Copper Corporation (SCCO)
Last southern copper corporation earnings: 2/26 04:01 pm
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Source: Yahoo! Finance
admitted their request for a $6 billion fee is "unprecedented," but by some measures, it might be cheap. The fee request, like Musk's pay package targeted in the case, defies easy comparisons. A judge in Delaware in the coming weeks will be asked to decide if it is reasonable and meets various legal requirements. The fee implies an hourly rate of $288,888 for the work that each of the 37 lawyers, associates and paralegals spent on the case, according to documents filed in the Court of Chancery in Delaware. By comparison, top-flight corporate attorneys bill $2,000 an hour and associates with several years under their belt at the biggest white-shoe law firms make around $288,000 - a year. At that $2,000 an hour rate, the total time put in by the shareholders' legal team - some 19,500 hours - would amount to about $39 million, a far cry from $6 billion. In addition to its size, the fee is unusual in that the legal team is seeking to be paid by taking part of what Musk is giving
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SCCO
News
- Southern Copper Co. (NYSE: SCCO) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Southern Copper Co. (NYSE: SCCO) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Southern Copper (SCCO) Q1 Earnings Beat, Fall Y/Y on Low Prices [Yahoo! Finance]Yahoo! Finance
- Southern Copper Co. (NYSE: SCCO) had its price target raised by analysts at Morgan Stanley from $123.00 to $135.00. They now have an "underweight" rating on the stock.MarketBeat
- Southern Copper Co. (NYSE: SCCO) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
SCCO
Earnings
- 4/25/24 - Beat
SCCO
Sec Filings
- 5/1/24 - Form 4/A
- 5/1/24 - Form 4
- 4/30/24 - Form 4
- SCCO's page on the SEC website