Tesla and Elon Musk are seizing upon an obscure provision in corporate law to attempt to restore Musk's $56 billion pay package, in an untested move that could again mire the company in litigation, legal experts said. The electric vehicle maker on Wednesday proposed putting Musk's 2018 pay deal to a shareholder vote, even though a Delaware judge voided it in January. Tesla is using a little-known section of Delaware's corporate law that lets companies fix procedural defects that would otherwise nullify their boardroom decisions.
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A lone investor with just nine shares in Tesla Inc. led the fight over Elon Musk’s $56 billion pay package, but high-stakes cases at the Delaware Chancery Court are far more likely to be brought by those with much larger investments: pension funds.
At the West Chester University Martin Luther King Jr. Brunch on January 26, two highly accomplished alumnae were recognized as Drum Majors for Justice.