Intelligize Blog

JANUARY 9, 2024

Namely, rank-and-file workers decried the hefty pay packages doled out to C-suite occupants, while executives fired back with arguments that their performance and value to their companies justified their compensation. Importantly, the rule carves out space for a company-selected measure, which may include non-GAAP performance measures.

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Law 360

JANUARY 24, 2022

Not only does Tesla Inc. 162 million for stock warrants, but the bank purposely misconstrued a 2018 tweet by Elon Musk to rake in a windfall of the electric car company's shares, Tesla told a New York federal court Monday. not owe JPMorgan Chase & Co.

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Law 360

JULY 8, 2022

Twitter Inc. said Friday the company will sue billionaire Elon Musk after the Tesla Inc. CEO pulled out of his $44 billion deal to buy the company based on allegations the social media giant hadn't provided enough information on fake accounts on the website.

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Law 360

NOVEMBER 15, 2021

owes JPMorgan Chase Bank NA more than $162 million for stock warrants that expired above the contractual strike price after the electric car company's CEO Elon Musk threatened in a 2018 tweet to take the company private, according to a lawsuit filed Monday in Manhattan federal court.

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Law 360

AUGUST 19, 2022

has spent weeks refusing to clear up a murky situation surrounding the role of its onetime legal chief, but experts are split on when the publicly traded company owes it to investors to tell them what happened.

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Law 360

APRIL 21, 2022

billion in financing to acquire Twitter and is considering launching a tender offer to the company's shareholders, even as its directors are trying to thwart a hostile takeover. CEO Elon Musk told regulators Thursday that he has lined up $46.5

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Law 360

OCTOBER 26, 2022

Elon Musk's unrestrained social media activity has cost Tesla Inc. shareholders "tens of millions of dollars" in damages and the electric car company's board members should be held personally liable for failing to restrain his actions, a new Chancery Court complaint says.

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Law 360

JUNE 7, 2022

A Twitter stockholder sued the social media giant in Delaware's Court of Chancery Tuesday, demanding access to corporate documents to probe alleged misstatements about user data and possible board failures in connection with the company's pending $44 billion acquisition by Tesla Inc. CEO Elon Musk.

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Law 360

MARCH 1, 2022

s proposal to resolve claims based on the pleadings that the electric car company owes the bank $162 million for stock warrants, telling a New York federal judge the proposal relies "heavily on a one-sided view of disputed facts." has blasted JPMorgan Chase & Co.'s

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Law 360

JUNE 16, 2022

A Tesla Inc. investor hit CEO Elon Musk and the company's board with a derivative complaint in Texas federal court Thursday that alleges a "toxic" workplace culture is exposing the business to "enormous" liability, citing several high-profile civil lawsuits filled by current and former workers.

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Law 360

JANUARY 27, 2023

An automotive industry analyst for JPMorgan said he was "shocked" when Tesla Inc. CEO Elon Musk tweeted in 2018 about a potential plan to take the company private, testifying in a California federal securities trial Friday that his initial reaction was Musk's account had been "hacked."

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Law 360

JANUARY 11, 2023

Investors suing Tesla Inc. and its CEO Elon Musk over his tweets about taking the company private told a California federal judge on Wednesday the class action should stay in San Francisco, scoffing at Musk's attempt to take the case to Texas a week before trial.

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Law 360

OCTOBER 25, 2022

urged a California federal judge overseeing investors' upcoming securities fraud trial over CEO Elon Musk's 2018 tweets about taking the company private at $420 a share to bar the plaintiffs from mentioning the automaker's 2018 deal with the SEC over the tweets, arguing the evidence is too prejudicial.

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Law 360

DECEMBER 7, 2022

A California federal judge on Wednesday barred any mention of Tesla Inc. Securities and Exchange Commission over his infamous tweets about taking the company private at $420 a share during an upcoming securities fraud trial over the same matter. CEO Elon Musk's 2018 settlement with the U.S.

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Law 360

SEPTEMBER 23, 2022

The Delaware Chancery Court on Friday refused Tesla CEO Elon Musk's request for a "blanket" waiver of the attorney-client privilege Twitter Inc. has cited in refusing to hand over documents in litigation over Musk's attempt to get out of his $44 billion offer to buy the company.

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Law 360

AUGUST 13, 2024

has fired a Delaware Court of Chancery broadside at a stockholder claim that the company failed to collect a required two-thirds majority vote to convert from a Delaware to a Texas-chartered company, saying the supermajority applies to charter changes rather than Tesla's corporate "redomestication."

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Law 360

APRIL 17, 2024

Attorneys for Tesla Inc. notified Delaware's chancellor Wednesday that the company will seek stockholder approval June 13 for the same $55.8 30, along with reincorporation of Tesla as a Texas company. billion Elon Musk compensation plan voided by Chancery Court on Jan.

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Law 360

JUNE 28, 2024

laid off approximately 14,000 employees without giving them a fair warning required under both federal and California law, a former parts advisor alleges in a putative class action seeking back pay and penalties on the automotive company.

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Law 360

FEBRUARY 13, 2025

and a stockholder objector have appealed a Delaware Court of Chancery approval of the return of more than $730 million in director stock, option and grant awards to the company that will resolve a suit accusing the electric carmaker's board of raking in "outrageous" compensation packages that cost the company hundreds of millions of dollars.

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Law 360

JUNE 14, 2024

Delaware's courts will continue to assert control over a multibillion-dollar Tesla Inc. legal fee dispute despite the company's rushed effort to reincorporate in Texas and potentially put CEO Elon Musk's massive, multiyear compensation plan beyond the state's reach, those familiar with the case said Friday.

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Law 360

JULY 14, 2021

Tesla Motors Inc. director Kimbal Musk said Wednesday in Delaware Chancery Court that he gave little weight to warnings about the electric car company's $2.6 in 2016, in testimony as part of a stockholder suit seeking billions in damages from his brother, Tesla CEO Elon Musk. billion acquisition of SolarCity Corp.

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Law 360

JANUARY 2, 2025

Three Florida-based Tesla Inc. stockholders have moved ahead with Delaware Supreme Court appeals aimed at Court of Chancery decisions that short-circuited the electric car company's 10-year, $56 billion compensation plan for Elon Musk and granted a $345 million cash award for class attorneys who won the decision.

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Law 360

MAY 8, 2024

Attorneys for Elon Musk and Tesla Inc. and its board have blasted class attorney motions to sequester billions worth of the automotive company's shares as an improper attempt to shield a nonfinal court ruling on Musk's 10-year compensation plan and as potential interference in a Tesla bid to reincorporate in Texas.

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Law 360

AUGUST 2, 2024

Delaware's chancellor pointed Friday to "zero cases under Delaware law" where stockholders were allowed to ratify a corporate act that had been found to be a breach of fiduciary duty, asking an attorney for Tesla Inc.

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Law 360

JULY 15, 2024

Chancery Court news was full of fees and settlements last week, with three multimillion-dollar deals getting a court OK, and a day-long discussion over a potentially multibillion-dollar fee award for attorneys who got Tesla CEO Elon Musk's astronomical pay package thrown out.

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Law 360

APRIL 26, 2023

After 14 years heading litigation and regulatory affairs at Apple Inc. and then seven more years doing it at Tesla Inc., Lynn Miller brings a depth of knowledge and a fervor for the environment to her new job as general counsel of an unusual transportation company.

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Law 360

AUGUST 5, 2022

Preliminary results from Tesla Inc.'s s annual meeting show that the company and CEO Elon Musk successfully fought off several shareholder resolutions aimed at improving what some investors and workers have called in lawsuits its "toxic culture."

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Law 360

MAY 3, 2021

Chancery Court late Monday allowed a limited piercing of the attorney-client privilege in a derivative stockholder suit challenging Tesla Inc.'s s approval of a potential $55 billion, 10-year compensation deal for company founder Elon Musk.

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Law 360

MAY 2, 2024

Business rating agency Standard & Poor's has revised downward to "moderately negative" electric vehicle company Tesla Inc.'s

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Law 360

JULY 13, 2021

Tesla Motors Inc. CEO Elon Musk told a Delaware vice chancellor Tuesday that the electric car company's $2.6 billion purchase of SolarCity Corp. reflected efforts to advance sustainable energy goals, as a bench trial with potentially billions of damages in the balance continued.

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Intelligize Blog

MAY 21, 2024

With prominent proxy advisory firms Institutional Shareholder Services and Glass Lewis balking at what ISS termed “significantly problematic” compensation for two key 3M executives, 54% of shareholders’ votes came down against the “Say on Pay” measure at this month’s annual company meeting. and Norfolk Southern Corp.

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Law 360

MAY 29, 2024

Delaware's chancellor has nailed Elon Musk, Tesla Inc. and their counsel to assurances that the company won't flee state corporate law jurisdiction and a potentially massive stockholder attorney fee dispute by rushing votes on a struck-down, $56 billion compensation plan for Musk and proposed reincorporation in Texas.

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Law 360

MAY 13, 2024

has failed to investigate reports that CEO Elon Musk used illicit drugs including ketamine, LSD and cocaine that may have influenced his social media posts, hurting stockholders and damaging the company's value, a shareholder has alleged in a recently unsealed amended complaint in Delaware's Court of Chancery.

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Law 360

JULY 12, 2021

Tesla Motors Inc. was "troubled" when the electric car company bought it for $2.6 CEO Elon Musk denied Monday that rooftop solar venture SolarCity Corp. billion in 2016, at the sometimes acrimonious opening of a 10-day Delaware Chancery Court trial on demands that Musk repay billions to stockholders.

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Law 360

JANUARY 30, 2023

A California federal judge on Monday blocked Tesla Inc.'s s bid to exclude an expert's testimony for calculating the losses investors claim they suffered as a result of CEO Elon Musk's tweet about possibly taking the company private, saying there is "nothing so fundamentally wrong" with the methodologies to make them inadmissible.

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Intelligize Blog

FEBRUARY 13, 2024

Judge Kathaleen McCormick ruled that the purportedly independent directors on Tesla Inc.’s Apple’s Tim Cook received a more favorable decision a week later when a federal judge tossed a lawsuit claiming the tech company miscalculated performance-based awards for its CEO and other executives.

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Law 360

DECEMBER 8, 2022

Google parent company Alphabet Inc., Dell Technologies Inc., Microsoft Inc. and Tesla Inc. Circuit on Thursday to uphold a lower court ruling that tossed a case seeking to hold the companies accountable for using cobalt in their products that is mined by children in the Democratic Republic of the Congo.

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