Tesla officially appealed against the Delaware resolution, to issue a judgment on Elon Musk’s reimbursement package.
He went to the Supreme Court of the State.
For full context of the case, you can read our new article on McCormick Pass’s lawsuit over rejecting Tesla’s claim that the new shareholder would ratify the remuneration package and force it to cancel its resolution to cancel the pay 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 upset at the ruling and the latter went as far as calling up “corruption” without offering 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 rebate package will pass Tesla’s rank in the years to come. Judgment on Delaware corporate law experts, I perceive it.
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.
“showing no intention to address their governance issues”
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 can be paid a little well here. Even as much or close to this amount. However, it will have to do so thanks to smart governance and respect the process.
Instead, Elon prefers to lie to shareholders and present the situation as politically motivated lawfare. It’s nonsense.
Now, it’s going to the Supreme Court and there’s a chance that nothing will change.
There is a simple solution. Recognize the outstanding consultations through the judge, the technique and provide a remuneration package per day with the shareholders that take into account the government consultation and that reduces the package in proportion to the position of this all this disaster to Tesla.
Fred is a chief editor and last year student at Electk.
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