Tesla attempt to save Elon Musk's $56B pay package gets sceptical reception

A Delaware judge has expressed skepticism regarding Tesla's attempt to reinstate Elon Musk's $56 billion pay package, which was invalidated earlier this year. During a court hearing, Tesla's lawyers argued that a recent shareholder vote to reapprove Musk's original 2018 compensation should allow the judge to reverse her earlier decision. However, the judge, Kathaleen McCormick, noted that the board had previously breached its legal duties in approving the package and questioned the legal basis for allowing shareholders to override her ruling. She suggested that it might be more appropriate for Tesla to create a new pay scheme rather than attempting to restore the invalidated package. The judge's comments indicated that the shareholder vote could be seen as a "risky legal strategy." Despite the court's findings, many shareholders believe Musk deserves the compensation due to Tesla's significant growth under his leadership. The judge is expected to make a ruling on the matter soon, including potential fees for the plaintiff's lawyers who brought the case against Tesla.

- A Delaware judge is skeptical about reinstating Elon Musk's $56 billion pay package.

- Tesla's lawyers argue that a recent shareholder vote should allow for the reinstatement.

- The judge suggested creating a new pay scheme might be a better approach.

- Many shareholders believe Musk deserves the compensation due to Tesla's growth.

- A ruling on the case, including potential legal fees, is expected soon.