A Delaware judge canceled a remuneration plan granted in 2018 to CEO Elon Musk. The plan had contributed to making him the richest man in the world.
After the ruling, the stock lost more than 3.5% on Wall Street in after-hours trading. The judge ruled in favor of some shareholders, who had sued, claiming that the decision to grant that astronomical package of stock options to Musk lacked transparency and motivation. "The process that led to the approval of the plan was profoundly flawed", reads the provision.