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A group of Tesla shareholders, including Cathie Wood's Ark Invest, David Israel, and Kurt Panouses, have filed an appeal against a Delaware court's decision that voided CEO Elon Musk's $56 billion pay package. The appeal was lodged in the Supreme Court of Delaware following a ruling by Delaware Chancellor McCormick last month. The court's decision came during the final days of the Biden administration, coinciding with a Securities and Exchange Commission (SEC) deadline for Musk to address alleged securities violations related to his $44 billion takeover. The shareholders are contesting the ruling that invalidated Musk's record compensation, which has drawn significant attention in the financial community.
Cathie Wood's Ark Invest, David Israel, and Kurt Panouses have appealed Delaware Judge McCormick's decision to void Elon Musk's $56 billion pay package https://t.co/XPWzoES5UZ
NEWS: Cathie Wood's Ark Invest, along with David Israel, and Kurt Panouses, have filed an appeal of Delaware Judge McCormick's decision to void Elon Musk‘s $56 billion pay package. They filed the notice of appeal in the Supreme Court of Delaware. The notice also targets… https://t.co/Zjrj3tk99F
“Elon Musk Pay Deal Decision Appealed to Delaware High Court; Delaware chancellor blocked $56 billion pay deal last January; Florida shareholders appealed decision voiding record pay”: Gillian R. Brassil of Bloomberg Law has this report. https://t.co/j6gu6Z9kAa
