Tesla urges Delaware Supreme Court to restore Musk’s $56 billion payday

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Elon Musk‘s $56 billion pay package from Tesla should have been restored by a vote of the company’s shareholders last year, a Tesla attorney argued to the Delaware Supreme Court on Wednesday. One of the biggest corporate legal battles entered its final stage after a lower court judge rescinded the Tesla CEO’s record compensation in January 2024. The company is also appealing a ruling by the lower court that rejected as legally invalid a vote by shareholders to restore the pay package.

“This was the most informed stockholder vote in Delaware history,”



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Tesla urges Delaware Supreme Court to restore Musk’s $56 billion payday



Elon Musk‘s $56 billion pay package from Tesla should have been restored by a vote of the company’s shareholders last year, a Tesla attorney argued to the Delaware Supreme Court on Wednesday. One of the biggest corporate legal battles entered its final stage after a lower court judge rescinded the Tesla CEO’s record compensation in January 2024. The company is also appealing a ruling by the lower court that rejected as legally invalid a vote by shareholders to restore the pay package.

“This was the most informed stockholder vote in Delaware history,”



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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