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Tesla's (TSLA.US) pay case ruling upheld, analysts expect to win on appeal to the Supreme Court

Market IntelTuesday, Dec 3, 2024 8:20 pm ET

1min read

Tesla's (TSLA.US) stock remains under pressure as the decision by Delaware Court of Chancery judge Kathaleen McCormick remains a thorny issue for both Musk and shareholders. The ruling upholds the previous decision to revoke Musk's compensation plan and awards the plaintiffs $345 million in legal fees. Dan Ives of Wedbush says Musk is so intertwined with Tesla that the board will eventually let Musk get his compensation plan and future long-term plan, even if the case needs to be appealed to the U.S. Supreme Court. While the long battle between Tesla and the court will intensify, Ives believes that given shareholders have twice approved the compensation plan by an overwhelming majority, Tesla will ultimately win the battle at the Supreme Court level.

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