Bloomberg Law
June 21, 2024, 8:48 PM UTC

Tesla Seeks to Delay July Hearing in Battle Over Musk’s Pay (1)

Jef Feeley
Jef Feeley
Bloomberg News

Lawyers for Elon Musk say a shareholder vote last week approving the Tesla Inc. co-founder’s <-bsp-bb-link state="{"bbDocId":"S83XOHT1UM0W","_id":"00000190-3c91-d497-a7fb-fc9d301c0002","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">$56 billion pay package should delay a hearing on the award of billions of dollars in fees to the lawyers who challenged it.

Attorneys for the electric carmaker said in a filing Friday that the June 13 decision by Tesla investors to re-approve Musk’s pay “impacts significantly what remains to be decided in this litigation.” The company asked for a delay of the July 8 hearing so it can lay out the shareholder vote’s implications.

<-bsp-bb-link state="{"bbHref":"bbg://securities/1400L%20US%20Equity","_id":"00000190-3c91-d497-a7fb-fc9d301f0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Delaware Chancery Court Judge <-bsp-person state="{"_id":"00000190-3c91-d497-a7fb-fc9d301f0001","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Kathaleen St. J. McCormick, who ...

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