That’s the claim, but the court document’s tone and language shows this was an ideological decision for the judge rather than a factual determination.

Regardless, shareholders just voted again on that same exact package retroactively and re approved it. This was a clear indication that the market still feels, even in hindsight, that the past targets were deserving of the equity granted. What internal folks thought or the judge’s guess about shareholders being “tricked” doesn’t matter since it is something shareholders (owners of the company) have judged on their own with all the information they have now about past performance. Also, neither Elon nor his brother voted on the measure. So to me all this serves as evidence that enough people think the targets were absurd enough to at least justify the equity.