Judge rules Musk’s US$56b compensation package unfair ...Middle East

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Judge rules Musk’s US$56b compensation package unfair
SAN JOSE (California): A judge in the US state of Delaware on Tuesday ruled that Elon Musk’s US$56 billion compensation package from Telsa was unfair, reported German news agency (dpa). Judge Kathleen McCormick found that Tesla boss Musk had too much influence behind the scenes when the plan for share awards was agreed in 2018 for it to be regarded as a fair process.McCormick ruled in favour of the plaintiff, a group of shareholders led by Richard Tornetta, who wants to cancel the agreement with Musk.“The defendants bore the burden of proving that the compensation plan was fair, and they failed to meet their burden,“ the judge wrote in the ruling.McCormick left open what will happen next, bu

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