Elon Musk's Mega Pay Package Resurrected by Delaware Supreme Court
In a landmark decision, the Delaware Supreme Court restored Elon Musk's $55 billion Tesla pay package after reversing a lower court's ruling. This decision concludes a seven-year legal battle over breaches of fiduciary duty. The package, criticized for lack of fairness in its approval process, was upheld after Tesla shareholders reaffirmed their support post-reincorporation to Texas. The ruling could embolden other corporates to escape Delaware’s stringent oversight.
Dec 23