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Benzinga
Benzinga
Technology
Rachit Vats

Tesla, Elon Musk Face Trial Over CEO's 2018 Pay Package Worth $2.5B

Tesla Inc. Elon Musk CNBC

Electric carmaker Tesla Inc (NASDAQ: TSLA) and CEO Elon Musk are facing a trial over the latter's 2018 pay package that was at the time worth $2.5 billion, CNBC reported on Wednesday, citing filings first published by legal transparency database PlainSite.

What Happened: Tesla shareholder Richard J. Tornetta had sued Musk and Tesla after the package was cleared, alleging it was excessive and that the board had breached its fiduciary duty by authorizing it, according to CNBC.

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