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Court Rejects Musk’s $101B Tesla Pay Package (Again)—DOGE Takes a 3% Dip

Author: Content Editor
A judge has rejected Elon Musk's $56 billion compensation package for a second time. Tesla shareholders had voted to reinstate the package, but Judge Kathaleen McCormick blocked it, stating that Musk's influence pressured the board of directors into accepting the massive payment. The package is now valued at $101 billion, a record-breaking pay package for Musk as Tesla CEO. Tesla plans to appeal the court's decision, arguing that it takes power away from the company's real owners. The judge had previously taken away Musk's pay package in January due to its excessive nature. The latest court order criticized the board for not fully informing investors and failing to prove that the terms of the package were entirely fair. The lawsuit was filed by shareholder Richard Tornetta, and Tesla must also pay $345 million in fees to his lawyers. In response to the legal loss, Dogecoin fell by 3.36% over the last 24 hours.

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