The Globe and Mail reports in its Tuesday edition that a Delaware judge ruled on Monday that Tesla chief executive officer Elon Musk still is not entitled to receive a $56-billion compensation package despite shareholders voting to reinstate it (all figures U.S.). A Reuters dispatch to The Globe says the ruling by the judge, Chancellor Kathaleen McCormick of the Court of Chancery, follows her January decision that called the pay package excessive and rescinded it. Tesla has said in court filings that the judge should recognize a subsequent June vote by its shareholders in favour of the pay package for Mr. Musk, the company's driving force who is responsible for many of its advances, and reinstate his compensation. Justice McCormick also ordered Tesla to pay the lawyers who brought the case $345-million, well short of the $6-billion they initially requested. Shareholders also flooded the court with thousands of letters arguing that the January ruling increased the possibility that Mr. Musk would leave Tesla or develop some products such as artificial intelligence at ventures other than Tesla. Justice McCormick in January found that Mr. Musk improperly controlled the 2018 board process to negotiate the pay package.
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