Elon Musk’s potential $56-billion payday must be defended by Tesla board in court ...News

Russia Today - Economy
Elon Musk’s potential $56-billion payday must be defended by Tesla board in court
source : Russia Today ( News ) () 45
A Delaware judge has ruled that the electric car company Tesla’s board of directors should stand trial to defend CEO Elon Musk’s multibillion dollar pay package. Tesla was sued by a shareholder in June 2018 over allegations of corporate waste and unjust enrichment. On Friday, a judge denied the company’s request to dismiss the lawsuit. While Tesla disputed how much the package is worth, “it is reasonably conceivable” that the award is “well in excess of that paid to Musk’s peers,” wrote Vice Chancellor of the Delaware Court of Chancery Joseph Slights. He dismissed the shareholder’s allegation that awarding Musk was equivalent to corpor

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