Tesla is appealing to the Delaware Supreme Court to reinstate Elon Musk’s $56 billion pay deal, arguing that shareholders had approved it. The lower court had voided the package in January 2024 due to board bias and inadequate disclosure to investors.

The outcome of the appeal could reshape Delaware’s reputation as a corporate hub, with firms like Tesla moving to Texas or Nevada. Musk may still receive billions under a backup $25 billion plan, with Tesla proposing a new $1 trillion compensation plan.

TSLA closed at $435.15 on Wednesday, up 1.38%, and currently trades after hours at $435.85 on the NasdaqGS. The court is also reviewing a $345 million legal fee tied to the case, with a ruling expected soon.

Read more at Nasdaq: Tesla Pushes Delaware High Court To Reinstate Musk’s $56 Bln Compensation Package