Musk Makes Final Pitch to Judge Who Blocked Record Pay Deal
- Tesla seeks to revive $56 billion payout after investor vote
- Judge isn’t required to consider vote, which came after ruling
Elon Musk
Photographer: Samuel Corum/BloombergThis article is for subscribers only.
One of the last chapters in Elon Musk’s six-year legal fight to save his $56 billion Tesla Inc. pay package unfolded Friday, as the world’s richest man made his final pitch to a judge that ruled the compensation deal was flawed and threw it out.
Delaware Chancery Court Judge Kathaleen St. J. McCormick heard arguments on whether a June 13 vote by shareholders to revive the compensation plan for Tesla’s co-founder justifies changing her ruling. Earlier this year, she found the largest executive-pay package in history was fouled by conflicts of interest and improper disclosures.