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Delaware Law

All articles tagged with #delaware law

business1 year ago•3 min saved

Tesla Seeks Shareholder Approval for Musk's Voided $56 Billion Pay Deal

Tesla seeks shareholder approval for CEO Elon Musk's $56 billion compensation package that was rejected by a Delaware judge in January. The re-vote comes amid weak demand for Tesla and reputational concerns for Musk. The board's close ties with Musk have been criticized, and the company is also seeking approval to move its state of incorporation from Delaware to Texas. Tesla's shares have fallen, and the company faces mounting concerns over its strategy and performance in the electric-vehicle market.

via Reuters|

#business #compensation #delaware-law

business2 years ago•2 min saved

Meta Attorneys Seek Dismissal of Lawsuit Challenging Directors' Obligations

Attorneys for Meta and Mark Zuckerberg have requested a Delaware judge to dismiss a shareholder lawsuit that argues Meta directors should not solely prioritize the interests of the social media giant. The lawsuit claims that Meta's directors have breached their duties by prioritizing profits over broader societal and economic concerns, which can negatively impact Meta shareholders' investments in other companies. The plaintiff argues for a "portfolio theory" of corporate governance that considers external factors. Attorneys for Meta argue that the claims go against Delaware corporate law and should be dismissed. The judge has yet to make a ruling.

via Yahoo Finance|

#business #corporate-governance #delaware-law