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A similar suit filed at the same court late last month by Michael Perry, another Tesla shareholder, accused Musk of insider trading when he sold over $7.5 billion of shares in Tesla in late 2022.
McCormick called the compensation granted by the company's board "an unfathomable sum" that was unfair to shareholders. In response to the ruling, Musk posted on X: "Never incorporate your company in the state of Delaware." [8] In June 2024, shareholders approved reincorporating Tesla in Texas and reapproved Musk's compensation. [9]
(Reuters) - A Tesla shareholder filed a lawsuit on Thursday accusing CEO Elon Musk of insider trading when he sold over $7.5 billion of shares of the electric car maker in late 2022, saying the ...
Tesla shareholders have voted twice to hand CEO Elon Musk a compensation package valued at more than $50 billion, which would make him the highest-paid executive ever. In a post Tuesday on X ...
Shareholders filed a lawsuit over the tweet, [8] and in February 2023, a jury found Musk and Tesla not liable. [9] Musk has stated in interviews that he does not regret posting the tweet that triggered the SEC investigation. [10] [11] In 2019, Musk stated in a tweet that Tesla would build half a million cars that year. [12]
Elon Musk is not entitled to a landmark compensation package awarded by Tesla’s board of directors that is potentially worth more than $55 billion, a Delaware judge ruled Tuesday. The ruling by ...
Defense attorneys then argued that the second vote makes clear that Tesla shareholders, with full knowledge of the flaws in the 2018 process that McCormick pointed out, were adamant that Musk is ...
A 2022 courtroom sketch of Delaware Chancery Court Chief Judge Kathaleen McCormick as she listened to testimony in a lawsuit where Tesla shareholders challenged a compensation plan for CEO Elon Musk.