05:38 PM EDT, 06/27/2024 (MT Newswires) -- Tesla (TSLA) wants a Delaware judge to rule in favor of Elon Musk's lucrative pay package after shareholders ratified it, Reuters reported, citing court documents filed Thursday.

Tesla shareholders voted June 13 to reinstate Musk's $56 billion pay package. The vote came after a January 30 ruling by Delaware Court of Chancery Judge Kathaleen McCormick. McCormick sided with a shareholder suit challenging the stock-based compensation on the basis that Tesla board was too closely aligned with Musk to fairly decide on the pay.

McCormick still needs to issue a final order and Thursday's court filing is asking that a "judgment is entered for the defendants," Reuters said. Oral arguments before McCormick are likely in late July or early August, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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