A Delaware judge just overruled a supermajority of shareholders who own Tesla and who voted twice to pay Elon Musk what he's worth. The court's decision is wrong, and we're going to appeal.
The original 2018 deal required Tesla to expense $2.3 billion, a massive sum for most CEOs but relatively insignificant for Musk today.
Judge McCormick criticized Tesla's board, including chair Robyn Denholm, for failing to act independently in 2018, which raises questions about corporate governance.
Critics, including venture capitalists, are questioning Delaware's status as the premier state for corporate incorporation, igniting debates over governance and accountability in corporate America.
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