Shares of Tesla (NASDAQ:TSLA) are trending down almost 3% in pre-market trading Wednesday morning as the market continues to process the news out of Delaware where a judge ruled to void Elon Musk's $56B pay package.
A Delaware judge supported investor plaintiffs who contested Musk's compensation plan.
"The plaintiff is entitled to rescission," the judge said in her ruling, and directed parties to confer on a final form of order to execute her decision.
Analysts posted on Elon Musk’s social media platform “X”, “The Tesla Delaware ruling against @elonmusk is a shocker but we see the Board fighting back hard and this is just the beginning of this battle”
Shares of TSLA are down 2.73% in pre-market trading Wednesday morning.