Tesla Takes Saga Over Elon Musk's Compensation Package to Delaware Supreme Court
Tesla has urged the Delaware Supreme Court to reinstate CEO Elon Musk's $56 billion compensation package, arguing that shareholders had already approved it in one of the most informed votes in the state's history.
The appeal follows a lower court's decision in January 2024, which voided the package citing board bias and inadequate disclosure to investors.
Tesla's attorney Jeffrey Wall said reaffirming the shareholder vote would resolve the case, while opposing counsel argued it would set a precedent for endless litigation.
Tesla is seeking to overturn the lower court's decision and reinstate the package.
Author's summary: Tesla appeals to Delaware Supreme Court over Musk's $56 billion package.