Tesla
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A Delaware judge gave Elon Musk and Tesla the green light on Friday to begin appealing a decision that could determine the fate of Musk’s massive $56 billion compensation package. This move by Chancellor Kathaleen McCormick of the Court of Chancery starts a 30-day window for Tesla and Musk to take their case to the…
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A Delaware judge ruled on Monday that Tesla CEO Elon Musk is still not entitled to a $56 billion compensation package, despite Tesla shareholders voting in June to reinstate it. Chancellor Kathaleen McCormick of the Court of Chancery issued the ruling, following her January decision to rescind the pay package, calling it excessive. This ruling…
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A U.S. appeals court on Wednesday upheld a jury’s verdict that cleared Tesla CEO Elon Musk and the company of liability in a case involving allegations that Musk misled investors with his 2018 social media posts. The posts claimed he had “funding secured” to take Tesla private at $420 per share, a statement that caused…
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A federal appeals court on Friday seemed unlikely to overturn a jury’s verdict that cleared Tesla CEO Elon Musk and his company of liability regarding allegations that they misled investors. This case stems from Musk’s 2018 social media post claiming he had “funding secured” to take Tesla private. During oral arguments at the San Francisco-based…
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A divided federal appeals court on Monday revived a lawsuit in which Tesla, the electric car company led by Elon Musk, challenged Louisiana’s ban on direct vehicle sales to consumers. In a 2-1 decision, the 5th U.S. Circuit Court of Appeals in New Orleans reversed a lower court judge’s dismissal of Tesla’s constitutional due process…
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Elon Musk’s electric vehicle maker Tesla (TSLA.O) replaced its longtime law firm in a California class action, court records show. Tesla swapped a team from Cravath, Swaine & Moore with attorneys from Wilmer Cutler Pickering Hale and Dorr. Cravath finalized its withdrawal from the consumer antitrust case last week. Tesla is fighting claims that it…
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Tesla (TSLA.O) and opponents of Elon Musk’s compensation clashed on Friday over how to resolve the legal issues surrounding the CEO’s $56 billion pay package and the billions of dollars in potential legal fees generated by the case. Tesla, in a court filing, urged a Delaware judge to recognize the vote by Tesla shareholders in…
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The CEO of the California Public Employees’ Retirement System (CalPERS) announced plans to vote against Tesla CEO Elon Musk’s $56 billion compensation package. CalPERS, the largest U.S. pension fund and one of the top 30 investors in Tesla with 9.5 million shares according to LSEG data, previously voted against Musk’s stock options package in 2018.…
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Tesla argued in court papers on Friday that the legal team voiding Elon Musk’s record Tesla pay package deserves only a tiny fraction of the $5.6 billion legal fee they requested, claiming their lawsuit provided almost no benefit to the company. Tesla (TSLA.O) stated that the legal team for Richard Tornetta, the shareholder whose lawsuit…
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A Tesla shareholder has filed a lawsuit accusing CEO Elon Musk of insider trading, alleging that Musk sold over $7.5 billion of Tesla shares in late 2022 before the company revealed potentially disappointing production and delivery numbers. The lawsuit, filed by shareholder Michael Perry in Delaware Chancery Court, claims that Tesla’s share price plummeted after…
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