Will Elon Musk’s Tesla pay package ruling survive appeal?

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From Bloomberg:

“Elon Musk’s $55 billion pay package at Tesla Inc. was struck down by a Delaware judge after a shareholder challenged it as excessive, a ruling that would take a giant bite out of Musk’s wealth and put the fate of his companies in question.

That is if the ruling survives a likely appeal.”

Question will resolve yes if the appeal fails, no if the ruling is overruled nearly or fully.

N/a if there is no appeal.

Possible clarification from creator (AI generated): The market resolves based on the appeal to the Delaware Supreme Court specifically. The Delaware Supreme Court must accept any appeals of lower-court decisions.

This question is managed and resolved by Manifold.

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

Published Mon, Dec 2 20244:56 PM EST on CNBC.com

Despite the June 13 shareholder vote at the company’s annual meeting, Delaware Chancery Court Judge Kathaleen St. J. McCormick decided to stick with her original finding in January that the company’s board was too much under the influence of the billionaire entrepreneur when it adopted the plan in 2018. The package was initially worth $2.6 billion and spiked to $56 billion by the time the judge canceled it.

(Bloomberg Law)

@DistinctlySkeptical This question resolves YES if the appeal fails. Also, IIUC this ruling from McCormick is not the appeal and he can still file an appeal somewhere?

@DistinctlySkeptical

Thanks for posting that article.

To be clear this market resolves based on the planed appeal to the Delaware Supreme Court.

"But shortly after Monday’s ruling, the company’s board said it will appeal the decision with the Delaware Supreme Court. That process that could take months. Unlike the US Supreme Court — which chooses which cases to hear — the state’s top court must accept any appeals of lower-court decisions."

I have extended the market.

I have not found evidence of an appeal.

If I can't find evidence an appeal is taking place at somepoint I will resolve N/a per market description.

And if the shareholders ratify the same pay package again, would it also resolve to YES?

I'm not the market creator, but I'm fairly confident that this market only refers to the lawsuit over the original pay package. The new pay package is logically a completely separate thing, even if it's basically the same deal.

Do you know what happens if there is no appeal at all? Like, what does "N/A if there is no appeal" mean?

"N/A" is a special option for resolving a market. It reverses all of the trades done, so that everyone gets back the mana that they originally put into the market.

Gotcha. In that case all funds will be held up until bet close on Dec 31, at which point everyone will get a refund. I think I'll pull out now. Thanks for the explanation.

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