5 ms·
Court of Chancery Opinion: Richard Tornetta vs. Elon Musk
- georgeg23 3y agoSo what happens now? Assuming the Delaware Supreme Court upholds the decision, will a new ex post facto pay package be negotiated?
- gumby 3y agoEven before this decision he already asked for 25% voting control a couple of weeks ago and threatened to start a competing company (for AI self driving and such) if Tesla doesn't give it to him. https://www.reuters.com/technology/musk-seeks-25-voting-share-tesla-2024-01-16/ https://www.reuters.com/technology/musk-seeks-25-voting-shar...
- firecall 3y agoHot take: Tesla would be better off without Musk dragging them down at this point.
- DoesntMatter22 3y agoAt no time did he threaten to create competing companies. He said he'd prefer to build products outside of Tesla.
- legaleagles 3y ago[flagged]
- Kimm0n0 3y agoYou can really do that, as the uncertainty from that time is gone.
- georgeg23 3y agoassume you meant can't* ?
- phantomathkg 3y agoWhat's it about? When I clicked all I got is "The requested URL was rejected. Please consult with your administrator."
- CoastalCoder 3y agoI'm guessing that's something at your end, or it was temporary. The link works for me.
- leetgirl83 3y agoThe guy that sued and just made Elon Musk lose 55 Billion dollars only had: NINE SHARES OF TESLA STOCK.
- throwup238 3y agoShareholder primacy, baby!
- Kimm0n0 3y ago55 Billion dollars worth less stocks also. So PE just went down!
- firecall 3y agoThe system works!
- ChrisArchitect 3y ago[dupe] More discussion: https://news.ycombinator.com/item?id=39196390 https://news.ycombinator.com/item?id=39196390
- TheCaptain4815 3y agoWhy would a judge decide something so monumental when they could have had a shareholder vote? I wonder if this will shift incorporating to Texas.
- LegionMammal978 3y agoFrom pages 2 and 3: > Delaware law allows defendants to shift the burden of proof under the entire fairness standard where the transaction was approved by a fully informed vote of the majority of the minority stockholders. And here, Tesla conditioned the compensation plan on a majority-of-the-minority vote. But the defendants were unable to prove that the stockholder vote was fully informed because the proxy statement inaccurately described key directors as independent and misleadingly omitted details about the process.
- legaleagles 3y ago[flagged]