According to CNBC, a thrash metal musician named Richard Tornetta (Dawn Of Correction) has just struck a blow against Elon Musk. The drummer filed a lawsuit to keep Tesla from giving Musk a $56 billion compensation package in 2018 and the Delaware Supreme Court has since chosen to side with him. Tornetta, who holds 9 shares in Tesla, originally filed the complaint after accusing the Tesla board of breaching their fiduciary duties by awarding Musk the package.
Chancery Court Chancellor Kathaleen McCormick said the following about her decision:
“Was the richest person in the world overpaid?
The stockholder plaintiff in this derivative lawsuit says so. He claims that Tesla, Inc.’s directors breached their fiduciary duties by awarding Elon Musk a performance-based equity-compensation plan.
In the final analysis, Musk launched a self-driving process, recalibrating the speed and direction along the way as he saw fit. The process arrived at an unfair price. And through this litigation, the plaintiff requests a recall.”
She also added:
“There is no greater evidence of Musk’s status as a transaction-specific controller than the Board’s posture toward Musk during the process that led to the Grant.
Put simply, neither the Compensation Committee nor the Board acted in the best interests of the Company when negotiating Musk’s compensation plan. In fact, there is barely any evidence of negotiations at all. Rather than negotiate against Musk with the mindset of a third party, the Compensation Committee worked alongside him, almost as an advisory body.”
Tornetta’s lawyer Greg Varallo.commented as well:
“We are enormously grateful for the Court’s thorough and extraordinarily well-reasoned decision in turning back the Tesla board’s absurdly outsized pay package for Musk. The Court’s hard work will redound directly to the benefit of Tesla investors, who will see the dilution from this gargantuan pay package erased.”
Notably, Musk has since responded via social media:
Metal Anarchy 
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