Delaware Chancery Court Judge Kathaleen St. J. McCormick said Thursday that she will hear arguments on whether to consider the recent shareholders’ vote results in her decision on Elon Musk’s $56 billion Tesla, Inc. TSLA pay package.
The Details: According to a Bloomberg report, Judge McCormick could rescind her Jan. 31 decision which found the board that approved Musk’s compensation was “beholden” to him and not looking after shareholders’ interests. Tesla argued its recent shareholder vote addressed many of the concerns McCormick raised in her decision.
McCormick said Thursday she will hear arguments on whether to consider the recent vote in late July or early August. The court will also hear a previously scheduled hearing on July 8 concerning attorney’s fees sought by lawyers who brought the challenge to Musk’s pay package.
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