According to Ukrinform, this situation was reported by the BBC.

Judge Catherine McCormick said the payout was an “exorbitant amount” that was unfair to shareholders.

During the week-long hearing, Tesla executives argued that the deal was made to allow one of the world’s most dynamic entrepreneurs to continue focusing his attention on the company.

But in his 201-page decision, the judge ruled that Tesla and Musk’s lawyers “failed to show that the shareholders’ decision was entirely justified” and that the award was negotiated by Tesla executives “influenced by the rhetoric” surrounding Musk’s “superstardom.” “

This decision may be appealed to the Delaware Supreme Court.

In a post on social network X, formerly known as Twitter, Musk wrote: “Never register your company in Delaware.”

He later posted a poll asking his followers whether Tesla should “change its state of incorporation to Texas, where its physical headquarters is located.”

Greg Varallo, an attorney for Tesla shareholder Richard Tornetta, who filed a lawsuit challenging Musk’s 2018 salary, said it was “a good day for the good guys.”

According to Ukrinform, Elon Musk said he wanted to buy approximately 25% of the shares in his business at Tesla.

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