Additional Coverage:
A Delaware judge has once again ruled against Elon Musk’s controversial pay package from Tesla.
The judge had previously voided the package in January, citing undue influence from Musk on the board of directors.
Despite a second vote by shareholders approving the package, the judge dismissed arguments challenging her initial ruling.
Tesla’s board is now ordered to pay $345 million to a shareholder who filed a lawsuit against the compensation plan.
Tesla plans to appeal the ruling, maintaining that the majority of shareholders support Musk’s pay.
However, the judge emphasized that the board was obligated to ensure fairness and transparency in determining Musk’s compensation, which she found they failed to do.