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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
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.