<div id="readability-page-1"><div><div><p>The Delaware Supreme Court has scheduled oral arguments over <strong>Tesla Inc.</strong> <span>TSLA</span> CEO <strong>Elon Musk</strong>'s $56 billion compensation package, which a trial court struck down in 2024.</p><h2>Elon Musk's $56B Pay Package Hearing On October 15</h2><p>The court will hear the arguments on October 15 as the full panel of five High Court judges will preside over the hearing, Bloomberg reported on Tuesday. The decision comes after Judge <strong>Kathleen McCormick</strong> struck down the compensation award even after it was approved by the Tesla board.</p><p>The report states that Musk and a group of board members have appealed the decision in a lawsuit filed by investor <strong>Richard Tornetta</strong>, who argues that Delaware law does not support Musk's claim that the board ratified the second shareholder vote.</p><h2>A New Compensation Package For Elon Musk, Shareholder Meeting In November</h2><p>The news comes as Tesla recently announced a revised compensation package for Musk, which would grant the billionaire over 96 million shares of the EV giant, totaling over $29 billion in value.</p><p>Meanwhile, Tesla has also announced it will hold its annual shareholder meeting in November after the investors wrote to the board, urging the company that the meeting was required by law.</p><h2>Several Lawsuits For Tesla, Declining Sales</h2><p>Tesla has been facing multiple lawsuits, with the company recently ordered by the court to pay $243 million in damages to the plaintiffs over a 2019 Autopilot crash that resulted in the death of a woman in Florida.</p><p>The EV giant is also facing a possible class-action lawsuit by investors over the Tesla Robotaxi, which the plaintiffs deem to be dangerous, as it possibly committed traffic violations during June's Robotaxi launch event in Austin.</p><p>Elsewhere, Tesla sales have been declining, with the company reporting poor sales performances across multiple regions throughout the globe.</p><p>Tesla scores well on Momentum, Quality and Growth metrics, but offers poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!</p><p><em>Check out more of Benzinga’s Future Of Mobility coverage by</em><em> following this link.</em></p><ul> <li>Tesla Talent Exodus Continues As North America Service Chief Departs Elon Musk's EV Giant</li> </ul><p><em>Photo courtesy: Shutterstock</em></p></div></div></div>

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<p>The Delaware Supreme Court will hear arguments on Elon Musk's $56 billion Tesla compensation package on October 15, after a trial court struck it down. Musk and board members are appealing a lawsuit by investor Richard Tornetta, who claims the board's ratification of a shareholder vote is unsupported by Delaware law. Tesla has also announced a revised compensation package for Musk worth over $29 billion and plans to hold its annual shareholder meeting in November. The company faces multiple lawsuits and declining sales.</p>

- The Delaware Supreme Court will hear oral arguments regarding Elon Musk's $56 billion compensation package on October 15, following a trial court's rejection of the award.  
- Musk and board members are appealing the decision in a lawsuit initiated by investor Richard Tornetta, who contests the board's ratification of the compensation.  
- Tesla is also facing multiple lawsuits, declining sales, and has announced a revised compensation package for Musk, alongside an upcoming shareholder meeting in November.  

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Elon Musk's $56 Billion Tesla Pay Showdown Heads To Delaware Supreme Court In October