Tesla has successfully reassured a Delaware judge that its attempted incorporation move to Texas won’t affect Elon Musk’s CEO compensation case.
In a new letter, Chancellor Kathaleen McCormick, the judge who canceled Elon Musk’s $55 billion compensation package after she concluded Tesla’s board misled investors, said that Tesla’s lawyers reassured her that the company won’t use its new shareholder vote on the compensation and incorporation move to Texas to circumvent the case.
The lawyers for the plaintiffs filed to accelerate the case, which is set for a hearing on July 8 to address the ridiculously high $6 billion legal fee they are asking for.
They were concerned that Tesla planned to use the votes on the incorporation move to Texas and the compensation package to avoid the judge’s decision in Delaware, which is basically the narrative that…