Get the latest tech news

Musk's record $56bn pay deal rejected for second time

The judge said the pay package would have been the largest ever for the boss of a listed company.

The decision in the Delaware court comes after months of legal wrangling and despite it being approved by shareholders and directors in the summer. Judge Kathleen McCormick upheld her previous decision from January, in which she argued that the board were too heavily influenced by Mr Musk. A shareholder vote on the payment passed by 75% in June, but Ms McCormick did not agree the pay should be so large despite what she called Tesla's lawyers' "creative" arguments.

Get the Android app