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Musk Moves Tesla to Texas – Furious Over 'Mammoth' Fee Court Strike

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Ο Μασκ μεταφ&rho ;ει την Τεσλα στο Τεξας – Εξοργισ&mu νος απo δικαστικor ακyρωση αμοι&beta ;orς «μαμοyθ»

Elon Musk said Thursday that Tesla shareholders are holding a vote on moving the plant to Texas from Delaware after a court struck down the automaker's $56 billion pay package electric vehicles (EV).

Infuriated by the Delaware court decision, Elon Musk convened a board meeting with the main topic of bringing the company to the Texas state register.

After a minority Tesla shareholder challenged Musk's compensation package, Judge Kathleen McCormick ruled Tuesday that the compensation package is “unimaginably” large and unfair to shareholders.

The compensation package was the largest in US history and helped make him the world's richest man in 2023. It is worth noting that Musk does not receive a salary from the electric vehicle company he founded, but is compensated according to the company's performance.

“Never establish your company in the state of Delaware,” posted the Musk on social media X shortly after the ruling.

Lawyers who represented the winning Tesla shareholders against Musk may be waiting for a fee – record and as they stated in the Financial Times: “Bernstein Litowitz Berger & Grossmann, the law firm that led the representation of investors who challenged the fee plan, could ask the Delaware Court to pay them up to one-third of the benefit awarded to shareholders by the ruling.”

< p>If the decision does not fall on any potential appeal, Tesla's board will have to come up with a new compensation package for Musk.

The trial came after a lawsuit by company shareholder Richard Tornetta five years ago, in which he argued that the payment in question was excessive.

source: CNN Greece

Source: 24h.com.cy

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