Delaware Judge Who Voided Elon Musk's Pay Package Assured Tesla Won't Fight Her Ruling Elsewhere: 'Give Me Great Comfort'
Portfolio Pulse from Benzinga Neuro
A Delaware judge, Chancellor Kathaleen McCormick, has nullified Elon Musk's $56 billion pay package and is assured that Tesla Inc. (NASDAQ:TSLA) will not challenge the ruling in another jurisdiction. Tesla shareholders are set to vote next month to ratify the pay package and reincorporate Tesla in Texas. A hearing for the legal fee requested by the shareholder's legal team is scheduled for July 8.
May 29, 2024 | 6:11 am
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A Delaware judge has nullified Elon Musk's $56 billion pay package and is assured that Tesla will not challenge the ruling in another jurisdiction. Shareholders are set to vote next month to ratify the pay package and reincorporate Tesla in Texas.
The nullification of Musk's pay package and the assurance that Tesla won't challenge the ruling elsewhere could create uncertainty among investors. The upcoming shareholder vote adds another layer of uncertainty, potentially leading to short-term negative sentiment around TSLA stock.
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