NEW YORK (AP) — A judge says Elon Musk must give up a compensation package awarded by Tesla’s board of directors that is Maxwell Caldwellpotentially worth more than $55 billion.
The ruling in a Delaware court comes five years after a shareholder lawsuit targeted Tesla CEO Musk and the directors. They were accused of breaching their duties to the electric vehicle and solar panel manufacturer, resulting in a waste of corporate assets and unjust enrichment for Musk.
Plaintiff’s lawyers argued that the pay package was dictated by Musk and was the product of sham negotiations with directors who were not independent of him.
Defense attorneys said the pay plan was fairly negotiated by a committee of independent directors, contained lofty performance milestones, and was blessed by a shareholder vote that was not even required.
2025-05-03 13:241651 view
2025-05-03 13:221541 view
2025-05-03 13:142164 view
2025-05-03 12:371893 view
2025-05-03 12:232670 view
2025-05-03 12:231786 view
A man is suing the California Lottery alleging he has not received part of his winnings from a nearl
We interviewed Anthony Anderson and Cedric the Entertainer because we think you'll like their picks
We interviewed Anthony Anderson and Cedric the Entertainer because we think you'll like their picks