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A Tesla investor who successfully sued to overturn CEO Elon Musk’s $56 billion pay package asked a Delaware judge on Wednesday to prevent the electric car company from avoiding court jurisdiction by moving its legal residence to Texas.
Representatives for Tesla investor Richard Tornetta have asked Delaware Chancellor Katalin McCormick to consider his request before Tesla’s June 13 annual meeting, where shareholders will vote on whether to reincorporate into Texas and approve Musk’s 2018 salary package.
A Delaware judge threw out the pay package in January, calling it “incomprehensible.” To try to restore that stake, Tesla used an unclear legal maneuver by asking shareholders to “certify” Musk’s 2018 salary.