The company argues that the ruling that voided Musk’s compensation was unfair and must be reversed.
Tesla has asked a Delaware court to restore the massive $56 billion pay package awarded to its CEO, Elon Musk, which was previously struck down by a judge earlier this year.
In January, a Delaware judge voided the agreement, ruling that Tesla’s board of directors failed to properly evaluate the deal before approving it. The decision sparked widespread debate in the business world, with some arguing that the ruling was excessively harsh.
Tesla insists that the pay package was lawfully approved and reflects Musk’s crucial role in transforming the company into one of the world’s leading electric vehicle manufacturers. The court is expected to hear the case again soon to decide whether Musk’s record-breaking compensation will be reinstated.