Attorneys for a Tesla shareholder urged a Delaware judge on Tuesday to invalidate a 2018 compensation package awarded by the company’s board of directors to CEO Elon Musk that is potentially worth more than $55 billion.
WILMINGTON, Del. — Attorneys for a Tesla shareholder urged a Delaware judge on Tuesday to invalidate a 2018 compensation package awarded by the company’s board of directors to CEO Elon MuskThe shareholder's lawyers argue that the compensation package should be voided because it was dictated by Musk and the product of sham negotiations with directors who were not independent of him
Delaware courts often defer to the “business judgment” of corporate directors in decision-making absent a showing of wrongdoing. But attorney Greg Varallo argued that the Tesla defendants should be required to show that the compensation plan was “entirely fair” to stockholders because Musk was a controlling shareholder.
Musk also downplayed the notion that his friendships with certain Tesla board members, including sometimes vacationing together, mean that they were likely to do his bidding. Varallo told Chancellor Kathaleen St. Jude McCormick that Musk should be force to give back some, if not all, of the stock option grants he has earned.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Musk's Tesla pay package under scrutiny in Delaware courtAttorneys for a Tesla shareholder urged a Delaware judge on Tuesday to invalidate a 2018 compensation package awarded by the company's board of directors to CEO Elon Musk that is potentially worth more than $55 billion.
Weiterlesen »
Watch Tesla Semi Steal Show At Harris Ranch Tesla Takeover EventThe Tesla Semi displaying a Frito-Lay livery on the cab and Cheetos-branded trailer made a stop at the Harris Ranch on its way to Bakersfield.
Weiterlesen »
Elon Musk now owns less of Tesla than Big 3 US passive funds hold: FTAmerica's 'Big Three' passive-investing funds now own more of Tesla than CEO Elon Musk does, report says
Weiterlesen »
Elon Musk needs to find a successor as Tesla CEO, activist investor saysFans may think Elon Musk is unbreakable but Tesla needs to find a successor in case his health fails, an activist investor in the carmaker says
Weiterlesen »
Elon Musk Cites Jury Verdict Over Tesla Tweets in SEC BattleElon Musk has filed legal paperwork to parlay a recent court victory over his tweets in 2018 about potentially taking Tesla private into a win also in a long-running legal battle with the SEC
Weiterlesen »
Judge to hear final arguments in trial over Musk's $56 billion Tesla payLawyers for Elon Musk and a Tesla investor will make closing arguments in a trial over his $56 billion pay package.
Weiterlesen »