Tesla chief executive Elon Musk’s record-breaking $56bn (£47bn) pay award will not be reinstated, a judge in Delaware has ruled, despite it being approved by shareholders and directors in the summer.
Judge Kathaleen McCormick upheld her previous decision from January, in which she argued that board members were too heavily influenced by Musk.
The pay package would have been the largest ever for the boss of a listed company, said Judge McCormick.
Responding to the ruling, Musk posted on X: "Shareholders should control company votes, not judges."
Tesla has vowed to appeal against the ruling, saying the decision was "wrong".
Subscribe here: http://bit.ly/1rbfUog
For more news, analysis and features visit: www.bbc.com/news
#ElonMusk #Tesla #BBCNews