A judge in Delaware rejected Tesla’s attempt to restore Elon Musk’s record $56bn pay package after previously striking it down as a breach of the fiduciary duty of the electric-car maker’s board, dealing a blow to the world’s richest man.
Judge Kathaleen McCormick wrote that Tesla’s unprecedented effort to push the 2018 pay package through a second time, four months after she first struck it down, was “creative”. But the board “had no procedural ground for flipping the outcome of an adverse post-trial decision based on evidence they created after trial,” she wrote.
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