Chancellor Kathaleen St. Jude McCormick emphasized that the arguments presented by Tesla's defense were fundamentally flawed, stating, 'The large and talented group of defense firms got creative with the ratification argument, but their unprecedented theories go against multiple strains of settled law.' This underscores her commitment to upholding legal principles against influential corporate interests.
In her ruling, McCormick reaffirmed that Musk's pay package was engineered through sham negotiations, determining that 'Even if a stockholder vote standing alone cannot ratify a conflicted-controller transaction,' solidifying her stance on corporate governance and integrity.
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