A Delaware judge's decision to voidTesla Inc.(NASDAQ:TSLA) CEOElon Musk's $56 billion compensation package for a second time has ignited strong criticism from prominent technology leaders and investors, highlighting growing concerns about Delaware's corporate governance framework.
What Happened:Cathie Wood, CEO ofArk Invest, condemned Delaware Chancery Court JudgeKathaleen McCormick's ruling, calling her an "activist judge" and arguing that shareholders' voting rights were being undermined. The package had received overwhelming shareholder approval twice, most recently with 77% support in June 2023.
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