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Judge Voids Elon Musk’s Tesla Pay Package In Rare Victory For Shareholders
A Delaware Chancery Court judge today has voided Elon Musk’s 2018 Tesla pay package, siding with shareholders who sued the board over the compensation agreement, calling it “the largest…
A Delaware Chancery Court judge today has voided Elon Musk ‘s 2018 Tesla pay package, siding with shareholders who sued the board over the compensation agreement, calling it “the largest in human history.” The Telsa stockholder who brought the suit, Richard Tornetta – “individually and on behalf of all others similarly situated,” sued board members James Murdoch, Robyn Denholm, Antonio Gracias, Linda Johnson Rice, Brad Buss, Ira Ehrenpries and Musk to invalidate the grant, worth up to $56 billion if the electric automaker achieved certain market cap and financial milestones “The parties are to confer on a form of final order implementing this decision and submit a joint letter identifying all issues, including fees that need to be addressed to bring this matter to a conclusion at the trial level,′ she wrote.
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