Summary via ChatGPT
A Delaware judge invalidated Elon Musk’s $56 billion Tesla pay package for a second time, citing undue influence and unfair terms set by Musk. Despite shareholder approval earlier this year, the court ruled the process failed to address governance concerns and transparency. The judge emphasized the board’s failure to prove the compensation plan’s fairness, suggesting alternative, reasonable payment options were possible. Tesla may appeal the decision or propose a new compensation plan.
What, so the package the stockholders voted on was the original package already deemed illegal in court? And apparently because that deal was illegal, it can’t be voted through by stockholders?
Am I getting this right? Because that seems incredibly stupid by the lawyers advising Trump and Tesla!
They wouldn’t have done it without Elon’s direction, easy bill-able hours for them.