Elon Musk can't keep $55 billion Tesla pay package, Delaware judge rules
CBSN
Elon Musk may not keep a Tesla pay package worth more than $55 billion, a Delaware judge ruled on Tuesday, saying that the Tesla CEO and his company failed to prove that the massive payout was fair.
The ruling comes five years after a shareholder lawsuit accused Musk and Tesla's board of directors of breaching their duties to the electric vehicle manufacturer, wasting corporate assets and unjustly enriching the billionaire.
Tesla shares slid 4% in after-hours trading.
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