Tesla board silent as investors await next steps after court revokes Elon Musk's $56 billion pay package
Publishing timestamp: 2024-02-13 09:24:36
Summary
The article discusses the aftermath of the Delaware court ruling that voided Elon Musk's $56 billion pay package at Tesla. The company's board has not provided any updates on the ruling or what it means for shareholders. Legal experts expect Musk to appeal the decision to the Delaware Supreme Court. The next step in the compensation case is implementing the order, which will be determined through discussions between the court, Musk's team, and lawyers representing shareholders. Tesla's board has remained silent on the matter, and requests for information have gone unanswered. If the ruling stands, Musk will lose his options but not any shares he previously held, potentially increasing the value of each share held by investors. Musk has expressed a preference for moving his businesses out of Delaware and has already relocated his brain computer interface company, Neuralink, to Nevada. The article also highlights concerns about corporate governance and the independence of Tesla's board.
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Keywords: technology, business news, autos, courts, breaking news: technology, delaware, elon musk, tesla inc, lawsuits, court decisions,