Tesla Investors Sound Off to Judge Who Voided Musk Pay Plan
- Some shareholders are upset attorneys want $6 billion in stock
- Delaware judge says she won’t read letters, cites ethics rules
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The judge who threw out Tesla Inc. co-founder Elon Musk’s record-setting $55.8 billion pay package said she’s received “many communications” from investors about the request from the winning lawyers for almost $6 billion in company stock.
Delaware Chancery Court Chief Judge Kathaleen St. J. McCormick said she’s not reading the letters. The state judiciary’s ethics code “prohibits me from considering” the letters from non-parties in the litigation “who claim to hold stock in Tesla,” she wrote to lawyers on both sides. She asked the attorneys to recommend a process for handling the letters.