Tesla Inc. Chief Executive Officer Elon Musk, during the Ira C. Eaker Distinguished Speaker Presentation in the Academy's Arnold Hall on April 7, 2022, in Colorado Springs, Colo. Photo: Trevor Cokley/U.S. Air Force via Wikimedia CommonsDel. Court Holds Stance on Musk's $55.8B Pay Rescission, Awards Shareholder Counsel $345M
The Delaware court listed four main reasons the post-trial decision to rescind Musk's compensation can't be changed.
December 03, 2024 at 02:56 PM
3 minute read
The Delaware court that rescinded Elon Musk's $55.8 billion Tesla compensation package at the beginning of the year rejected Musk's request to revise that decision on Monday and awarded plaintiffs' counsel $345 million in fees.
Delaware Court of Chancery Chancellor Kathaleen St. J. McCormick entered a 103-page opinion stating despite Tesla shareholders having voted to reinstate his record-setting payment plan, Delaware law does not allow the earlier opinion to be changed. That and the question of attorney fees were both argued in August.
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