By Tom Hals
WILMINGTON, Delaware (Reuters) – Tesla began its fight for legal recognition of a shareholder vote favoring Elon Musk’s record compensation, telling a Delaware judge that it “significantly impacts” her ruling voiding the pay, according to a letter made public on Monday.
Tesla wrote to Chancellor Kathaleen McCormick that the parties in the pay package case should now lay out their legal interpretations of Thursday’s ratification of Musk’s pay, rather than moving ahead with the case on the prior schedule.
“The approval of ratification by Tesla’s stockholders significantly impacts the claims and issues in this action, including the court’s final judgment,” Tesla attorneys told McCormick in the letter, which was filed with the Court of Chancery on Friday.
Greg Varallo, a shareholder attorney in the case against the pay package, said the ratification had “no legal effect” on…
