A Delaware judge blocked Tesla CEO Elon Musk from receiving a massive multibillion dollar compensation package this week that the company’s shareholders overwhelmingly approved for him.
The ruling from Chancellor Kathaleen McCormick of the Delaware Court of Chancery, who was appointed by Delaware Democrat Governor John Carney, comes after she struck down the same deal in January when she claimed in her ruling that the size of package was not fair. The company’s board of directors first approved the package for Musk in 2018.
After McCormick blocked the package earlier this year, 77% of the shareholders at Tesla voted in June to approve the compensation package for Musk a second time.
McCormick awarded the plaintiff’s attorneys $345 million in the case, equivalent to $17,692 per hour for the amount of time worked, because they had to face “some of the best law firms in the…
