A Delaware decide on Monday upheld her earlier ruling {that a} big pay bundle that Tesla awarded its chief government, Elon Musk, have to be rescinded.
The pay, within the type of inventory choices, was value greater than $50 billion and helped make Mr. Musk the richest particular person on the earth.
The decide, Chancellor Kathaleen St. J. McCormick of the Delaware Court of Chancery, struck down the award in January, ruling that shareholders had not been correctly knowledgeable of its particulars and that members of Tesla’s board weren’t sufficiently impartial.
But legal professionals for Tesla and Mr. Musk argued {that a} second shareholder vote in June in favor of the bundle cleared the best way for successfully reinstating it.
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