Tesla fails to overturn ruling on Musk's $56b pay deal

Delaware Chancery Court Judge Kathaleen McCormick denied Tesla’s attempt to overturn her previous decision on CEO Elon Musk’s US$56 billion compensation deal.

The ruling came after Tesla shareholders voted in June to “re-ratify” the agreement.

Judge McCormick criticized Tesla’s legal arguments for inconsistencies with established legal precedents.

Tesla announced on its X platform plans to appeal the decision to the Delaware Supreme Court.

Earlier this year, Tesla had moved its incorporation from Delaware to Texas.

Recent Tesla developments

Timeline
30-Nov-2024 🚗 Tesla slashes Model Y vehicle prices in China Tesla cuts Model Y prices by 10,000 yuan 0% financing available for Model Y in China
19-Nov-2024 🚗 Tesla shares jump nearly 8% on Trump’s self-driving policy Tesla shares rise 8% after Trump election news Musk appointed to lead self-driving vehicle focus
11-Nov-2024 🚗 Tesla market cap tops $1t after Trump win Tesla shares rise 8% to over $1 trillion cap 29% rally since Trump’s election boosts investor interest
07-Nov-2024 📈 Tesla gains 14.8% as EV rivals slump on policy outlook Tesla shares rose 14.8% amid Trump policy speculations Other EV makers like Nio and Rivian saw declines
25-Oct-2024 🚗 Tesla shares soar 22% on strong sales growth outlook

Stay ahead in Asia’s tech landscape

You've reached your 2 free content limit for the month. Sign up for free to read the full story.

🏄 For casual readers / 👶 Free

Basic

US$0

Free forever

Get instant access to this article and more every month

0 premium content

Unlimited news briefs

5 articles

Ad-free reading experience

Just US$0 per day

⌛Sign up in 20s. No payment details needed.

📖 For learners / 👍 Starter

Lite

US$4.92/month

Billed annually at US$59/year

Get instant access to this article and more every month

4 premium content

Unlimited news briefs & articles

Ad-free reading experience

Just US$0.17 per day

Cancel anytime

Our subscriber community includes professionals from these companies:

Recent Tesla developments

Stay ahead in Asia’s tech landscape

Stay updated on the go with our mobile app.