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Tesla CEO Elon Musk loses bid to get $56 billion pay package reinstated

  • A Delaware judge rejected Elon Musk's bid to reinstate a multi-billion dollar pay package, ruling it was improperly granted.
  • Chancellor Kathaleen McCormick stated that shareholders had not ratified the payment plan prior to her ruling.
  • Musk can still appeal the decision to the Delaware Supreme Court.
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