A Delaware judge has once again invalidated a $56 billion pay package awarded to Tesla's CEO, Elon Musk. The judge ruled that Musk had manipulated Tesla's board and orchestrated the exorbitant compensation plan during deceptive negotiations. This decision came after a Tesla shareholder filed a lawsuit, claiming that shareholders were misled and provided incomplete information when they approved the pay plan in 2018.
Tesla's board members argued that shareholders had re-ratified the pay plan in June after receiving full disclosures, thereby rectifying any issues raised in the initial ruling. However, the judge dismissed this argument, stating that Tesla's lawyers had no basis to reverse her previous decision based on post-trial evidence they presented.
