Tesla Seeks to Delay July Hearing in Battle Over Musk’s Pay
- Car maker argues impact of investor vote must be considered
- Tesla investors overwhelmingly backed reviving Musk’s pay plan
Elon Musk
Photographer: Tolga Akmen/EPA/Bloomberg
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Lawyers for Elon Musk say a shareholder vote last week approving the Tesla Inc. co-founder’s $56 billion pay package should delay a hearing on the award of billions of dollars in fees to the lawyers who challenged it.
Attorneys for the electric carmaker said in a filing Friday that the June 13 decision by Tesla investors to re-approve Musk’s pay “impacts significantly what remains to be decided in this litigation.” The company asked for a delay of the July 8 hearing so it can lay out the shareholder vote’s implications.