Elon Musk must hand back the biggest pay packet in corporate history after a judge ruled he strong-armed Tesla directors into awarding him $55 billion.
The ruling in a Delaware court comes five years after a lawsuit filed by shareholder Richard Tornetta targeted Musk and the directors of the electric car company he founded.
Chancery Court Judge Kathleen McCormick in her ruling found that the process leading to the board’s approval of his 2018 compensation package was 'deeply flawed'.
Elon Musk must hand back the biggest pay packet in corporate history after a judge ruled he strong-armed Tesla directors into awarding him $55 billion.
The ruling in a Delaware court comes five years after a lawsuit filed by shareholder Richard Tornetta targeted Musk and the directors of the electric car company he founded.
Chancery Court Judge Kathleen McCormick in her ruling found that the process leading to the board’s approval of his 2018 compensation package was 'deeply flawed'.
