According to a report by Reuters, Delaware Court of Chancery Chief Judge Kathaleen McCormick has approved Elon Musk and Tesla's appeal to restore a $56 billion compensation plan. Musk and Tesla must file their appeal with the Delaware Supreme Court within 30 days, and the trial results may take about a year.
Chief Judge McCormick rejected the new compensation plan in January this year, describing its scale as 'incomprehensible' and stating that the plan violates fiduciary duties to investors. Tesla shareholders voted in favor of the plan in June, but McCormick refused to reconsider the ruling earlier this month.