Elon Musk won his Tesla pay battle. Now he has to win his legal war
What is the new legal challenge facing Elon Musk's compensation plan?
The new legal challenge facing Elon Musk's compensation plan is determining whether the recent shareholder vote in favor of his $56 billion pay package can overturn a Delaware judge's decision that voided the plan earlier this year. The judge must now decide if the shareholder vote is sufficient to restore Musk's pay package.
What was the outcome of Elon Musk's Tesla pay battle?
Tesla shareholders voted to restore Elon Musk's $56 billion pay package, which had been previously voided by a Delaware judge. However, the legal battle over the pay package is not over, as the Delaware court must now rule on whether the recent shareholder vote was fair under the state's business laws.
What is Tesla's argument for overturning the judge's initial decision?
Tesla argues that the June 13 shareholder vote, which supported Musk's $56 billion pay plan, offers a "principled resolution" to end the dispute in Musk's favor, and should be considered in overturning the judge's initial decision.