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Governance Issues

All articles tagged with #governance issues

business1 year ago

"Elizabeth Warren Renews Call for SEC Probe into Tesla and Elon Musk's Governance"

Senator Elizabeth Warren has once again called on the SEC to investigate Tesla, CEO Elon Musk, and the company's board of directors over potential misappropriation of resources and conflicts of interest. Warren's concerns stem from Musk's control over the board and recent actions that she believes prioritize his personal benefits over the interests of Tesla's shareholders. This request for investigation comes amidst a Delaware Chancery court ruling and Musk's recent public statements and actions. The SEC, which has clashed with Musk in the past, is now being urged to look into potential securities fraud related to Musk's activities with Twitter.

via CNBC|
#business#elizabeth-warren#elon-musk
business1 year ago

Legal Team Seeks $5-6 Billion in Tesla Stocks from Elon Musk Compensation Case

The lawyers who successfully challenged Elon Musk and Tesla's CEO compensation plan are seeking over $5 billion in Tesla stocks as their compensation. The court found that Tesla's board misrepresented Musk's compensation package and invalidated the vote on the plan. The lawyers argue that their requested fee is justified as it is linked to the benefit created and won't impact Tesla's balance sheet. Elon Musk criticized the lawyers' demand, calling it "criminal." While the lawyers' request is seen as excessive, it highlights the governance issues at Tesla, and the court's decision could lead to positive outcomes such as addressing governance issues and a re-vote on the compensation plan.

via Electrek|
#business#ceo-compensation#elon-musk
finance1 year ago

Elon Musk's Issues Drive Tesla Stock Downgrade and Price Target Drops

Tesla's stock was downgraded by Daiwa Capital Markets analyst Jairam Nathan, who cited concerns about governance issues surrounding CEO Elon Musk that could exacerbate the already "tough" electric vehicle demand environment. The analyst downgraded the stock to neutral from outperform and lowered the price target by 20%, expressing worries about potential restrictions on Tesla's long-term focus and technology advantage due to governance issues. The stock has tumbled 26.2% year to date, making it the worst performer in the S&P 500 index, and the recent knocks on Tesla's governance could make the path for long-term investors more volatile.

via MarketWatch|
#elon-musk#ev-demand#finance
business2 years ago

Byju's Reports Revenue Growth Despite Losses in FY22

Indian edtech giant Byju's has reported revenue of $429.18 million for its core business in the financial year ending March 2022, falling short of its projected $1.25 billion revenue. The company also missed its revenue projection for the previous financial year and has faced delays in filing its financial accounts. Byju's is currently dealing with various challenges, including the departure of its CFO, auditor Deloitte, and key board members. Investors are awaiting clarification on the financial accounts and resolution of governance issues. Byju's is planning to sell some of its acquired businesses to clear dues to lenders.

via TechCrunch|
#business#byjus#edtech