Tesla has officially filed its appeal opposing the Delaware judge’s ruling 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 Tesla’s ratification argument, which she explained goes against settled law, and she also found other “multiple, material misstatements in the proxy statement” 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 insists on seeking the same approved $55 billion reimbursement package based on the argument that the Pase trial eliminates the right of shareholders 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 remuneration package will be dedicated to Tesla for years. Even if that musk deserves this package, the technique of Tesla to reintegrate its bone and I have not followed the law as me, and supposedly the judgment and maximum connoisseurs of the law in Delaware, perceived ititray
Tesla, and more so in Elon’s Musk Componenticular, it is difficult to differentiate between the two lately, which is the component of the problem, it does not show any objective to solve its governance problems.
“Do not show any objective of solving your 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 can pay a little without problems here. Even both or close to this amount. However, you will have to do it through intelligent governance and respect the process.
Instead, Elon prefers to lie to shareholders and provide the right of political motivation. This makes no sense.
Now he goes to the Supreme Court and there is the possibility that nothing changes.
There is a simple solution. Acknowledge the issues highlighted through the judge, address them and provide an updated payout package to shareholders that takes into account the governance factor and reduces the package proportionately to the charge of this whole mess at Tesla.
Fred is editor-in-chief and a senior at Electk.
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