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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 ...
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.
Tesla stock fell 1.6% Tuesday after a Delaware judge denied CEO Elon Musk's $56 billion pay package for a second time.The Delaware Court of Chancery in January struck down Musk’s performance ...
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 ...
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.
Tesla will ask shareholders to reinstate a $55 billion compensation package for CEO Elon Musk that was rejected by a judge in Delaware this year and to move the electric car maker’s corporate ...