Hyperdrive
Tesla Investor Fights With Musk Over Billionaire’s Pay in Appeal
The brief is a response after Tesla, Musk and a group of shareholders appealed the December decision by Chancellor Kathaleen St. J. McCormick rejecting the chief executive’s award for the second time.
Photographer: Jordan Vonderhaar/BloombergA Tesla Inc. shareholder urged Delaware’s highest court to uphold a decision that struck down Elon Musk’s record-setting pay package, as the world’s richest person fights to recover it on appeal.
A Delaware Chancery Court judge was right to reject Musk’s bid to revive the Tesla compensation plan through a second shareholder vote, lawyers for Richard Tornetta — the Tesla investor who successfully challenged Musk’s pay — argued in an appeal brief filed Friday in the state’s Supreme Court.