Delaware Judge Invalidates Elon Musk's Multibillion-Dollar Tesla Pay Package
Delaware Judge's Ruling on Musk's Pay Package
A Delaware judge on Monday once again blocked Elon Musk's multibillion-dollar pay package from Tesla. The controversial compensation agreement, now valued at over $100 billion, had been reapproved by Tesla shareholders earlier this year.
Legal Proceedings and Judge's Remarks
However, Delaware Chancery Judge Kathaleen McCormick stood by her prior decision, stating that the ratification argument presented by Musk's lawyers lacked legal foundation.
- McCormick stated that there are no grounds for overturning her decision based on post-trial evidence.
- She emphasized that a shareholder vote can't simply ratify a conflicted transaction.
Tesla's Response and Future Actions
Tesla announced plans to appeal McCormick's decision, asserting that it undermines shareholder authority. Musk labeled the ruling as
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