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Delaware Court Of Chancery

All articles tagged with #delaware court of chancery

business1 year ago

"Elon Musk's Lawyers Request $6 Billion in Tesla Shares as Compensation"

Elon Musk responds to lawyers requesting 29 million Tesla shares, valued at almost $6 billion, as legal awards in the recent Delaware case regarding his Tesla compensation package, which was rejected by a judge in late January. The lawyers argue for the fee in Tesla stock instead of cash, and Musk criticizes the request as "utterly disgraceful" and "criminal." Following the decision, Musk plans to move the incorporations of his other companies out of Delaware and appeals the ruling.

via TESLARATI|
#business#compensation-package#delaware-court-of-chancery
legalcorporate1 year ago

"Trump Media Co-Founders Sue Company in Delaware's Chancery Court"

The founders of Truth Social, a social media platform associated with Donald Trump, have sued the company in Delaware's Court of Chancery, alleging that Trump and his associates at Trump Media & Technology Group Corp. tried to cheat them out of the value of their shares in the company. The lawsuit claims that Trump and his associates attempted to dilute the value of the co-founders' shares by issuing a large number of new shares, potentially impacting their equity share from 8.6 percent to less than 1 percent. The lawsuit seeks an expedited court hearing to address these allegations.

via The News Journal|
#delaware-court-of-chancery#donald-trump#lawsuit
business1 year ago

"Judge Overrules Elon Musk's $55 Billion Tesla Pay Package"

A Delaware Court of Chancery judge has ruled that Elon Musk won't receive his $55 billion pay package, prompting Tesla's board to devise a new proposal. The ruling, if upheld, could impact Musk's wealth, potentially dropping him to the third-richest person globally. The case centered on whether Musk misled shareholders about the package, with the court finding that the proxy statement inaccurately portrayed key directors as independent. Musk, who seeks greater control over Tesla, awaits the verdict's impact on his proposal for a larger ownership stake.

via The Verge|
#business#compensation-package#delaware-court-of-chancery