Chancellor Kathaleen McCormick, the Delaware judge who nullified Musk’s $56 billion pay package, said that she is assured Tesla Inc. (NASDAQ:TSLA) will not challenge the ruling on CEO Elon Musk’s pay package in any other jurisdiction.
What Happened: This assurance came after the shareholder legal team, who had sued over Musk’s hefty pay package, sought orders to prevent their case from being overturned in a Texas court, Reuters reported on Wednesday.
“If I have interpreted the defendants' position incorrectly, then defense counsel – as officers of the court – are duty-bound to correct it. In the meantime, the defendants' statements give me great comfort,” McCormick said in her seven-page letter.
Tesla shareholders are set ...