Tesla Fights to Save Musk's Record Pay Package in Legal Appeal

Tesla Inc. urged Delaware’s highest court to salvage Elon Musk’s record-setting pay package after a lower-court judge rejected it twice, taking his epic legal battle over tens of billions of dollars in stock options to the next level.

Tesla’s lawyers wrote in an appeals brief Tuesday that the state’s Chancery Court disregarded the will of shareholders who signed off on the compensation plan for Tesla’s chief executive officer after Chancellor Kathaleen St. J. McCormick spiked it the first time.