Tesla officially appealed against the Delaware resolution, to issue a judgment on Elon Musk’s reimbursement package.
It’s heading to the state’s Supreme Court.
For a complete context of the case, you can read our new article on the McCormick Pass trial about rejecting Tesla’s statement that the new shareholder would ratify the remuneration package and force it to cancel its resolution to cancel the payment package.
Last month, Judge McCormick rejected the ratification argument of Tesla, which explained opposite to the established law, and also discovered other “multiple and anomalies in the declaration of power” of the new vote.
Tesla and its CEO Elon Musk were disappointed by the resolution and the latter went to call it “corruption” without providing any evidence.
As expected, Tesla has now appealed to the Supreme Court of Delaware.
The automaker is insisting on trying to get the same $55 billion compensation package approved based on the argument that the judge is taking away shareholders’ right to decide for themselves.
However, this is based on Tesla rejecting absolutely all the judge’s conclusions on how Tesla is mistakenly mistakenly on how the package negotiated and presented the shareholders.
As I wrote last summer, Elon Musk’s compensation package will be dedicated to Tesla for years. Even if that musk deserves this package, Tesla’s technique to reintegrate its bone and I haven’t followed the law like I have, and supposedly the judgment and maximum of the law connoisseurs in Delaware, I perceive ItArray
Tesla, and more in Elon Componentícular Musk, it is difficult to differentiate the two in recent times, which is the component of the problem, it shows no objective to solve its governance problems.
“Not showing any objective of solving its governance problems”
It’s not just the $55 billion. Its Elon. He’s the problem that Tesla can’t and/or won’t face…even as sales start to decline due to the CEO’s distraction and evil insanity.
Let’s be clear: Elon could get paid somewhat easily here. Even as much or close to this amount. However, it needs to do it through the proper governance and respect the process.
Instead, Elon prefers to lie to shareholders and provide the right of political motivation. It is nonsense.
Now, it’s going to the Supreme Court and there’s a chance that nothing will change.
There’s an easy solution. Recognize the issues highlighted by the judge, address them, and present an updated compensation package to shareholders that takes into account the governance issue and that reduces the package proportionally to the cost of this entire mess to Tesla.
Fred is editor -in -chief and major in Electk.
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