Elon Musk request to reinstate his $56 billion Tesla pay package is again rejected by judge

Elon Musk's efforts to get his massive $56 billion 2018 Tesla pay package reinstated was rejected by a Delaware judge on Monday. 

The decision, issued by Delaware Chancery Court Judge Kathaleen St. J. McCormick, comes after a majority of Tesla shareholders in August reauthorized the compensation package during the electric vehicle maker's annual meeting. 

After it was initially approved in 2018, the pay package sparked a lawsuit from some Tesla shareholders who accused Musk and Tesla's board of directors of breaching their duties and unjustly enriching the billionaire. A Delaware judge ruled that Musk and his company failed to prove that the huge payout was legally warranted, prompting Musk to take the issue back to his shareholders in August.