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Elon Musk Makes Final Plea to Delaware Judge in $56 Billion Tesla Pay Package Legal Fight
Aug 2, 2024, 05:01 PM
Elon Musk's six-year legal battle to retain his $56 billion Tesla pay package reached a critical juncture on Friday. The case, which has seen extensive courtroom drama, culminated in Musk making his final plea to a Delaware judge who previously ruled the compensation deal as improper. Tesla attorneys argued that honoring the shareholder vote would affirm the strength of the corporate system, emphasizing stockholder democracy. However, skepticism remains about whether the decision to invalidate Musk's compensation package will be overturned, with references to a 2018 court rejection of the original pay package. Judge McCormick highlighted the central issue of whether shareholders can ratify breaches of legal duties by directors after a trial.
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Yes • 50%
No • 50%
Reinstated in full • 25%
Reinstated in part • 25%
Invalidated • 25%
Other outcome • 25%
Appeal successful • 25%
Appeal unsuccessful • 25%
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Other outcome • 25%
Appeal successful, package reinstated • 25%
Appeal denied, ruling upheld • 25%
Partial success, modified package • 25%
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Approved • 33%
Rejected • 33%
Deferred • 33%
Pay package reinstated • 25%
Pay package invalidated • 25%
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Other outcome • 25%
Unchanged • 33%
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