Thread by @peter03102

30JAN24e

A Delaware judge on Tuesday ruled in favor of the investor plaintiffs who challenged @elonmusk's $56 billion Tesla pay package, a court filing showed.

1752449676911976723




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https://twitter.com/SawyerMerritt/status/1752449676911976723

peter03102.com/TFiles/#30JAN2…

POST-TRIAL OPINION
TORNETTA v. MUSK, TESLA


- courts.delaware.gov/Opinions/Downl…

screenshot in the SawyerMerritt post

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The filing explicitly says that having a stake in Tesla should be enough motivation for Musk!

Crazy.

[picture from pg 7 of pdf marked as pg 6]

recentsneakers/status/1752452008706281951

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The ruling can be appealed to the Delaware Supreme Court.

SawyerMerritt/status/1752450585977041249

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How can a judge in Delaware overturn the vote of the majority (80%) of Tesla shareholders?

And, @elonmusk compensation package was based on almost impossible targets, which he met.

he also added value for all shareholders.

kerrikgray/status/1752719738407678311

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@elonmusk What's ironic in all this is that this 2018 compensation package was approved by 73% of $TSLA shareholders at the time.

He had to hit extremely difficult market cap and revenue milestones.

SawyerMerritt/status/1752476782240960988

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@elonmusk Yup

elonmusk/status/1752500428967928038

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@elonmusk Whoever those lawyers were deserve a raise…

jawwwn_/status/1752481730563551626

The craziest part of this story is that the guy who sued had only 9 shares of $TSLA 🤯

jawwwn_/status/1752479351394934869

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@elonmusk article screenshotted in the previous post

Explainer: The case against Elon Musk's $56 billion pay package


-reuters.com/legal/case-aga…

@elonmusk For those curious, this is why the Judge ruled against Elon and Tesla

SawyerMerritt/status/1752478838854938817

This is insulting to shareholders

elonmusk/status/1752513283142382078

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@elonmusk I voted yes for your 2018 compensation package, and would do it again.

SawyerMerritt/status/1752514475054289350

We were completely aware what we were voting for. I voted “yes” and I would vote “yes” again.

daveydo2000/status/1752516466136555805

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@elonmusk I’m buying 9 more $TSLA shares tomorrow …
to the judge and person who started this GFY 🖕🏽

MolieJa/status/1752516763533881514

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@elonmusk The words may say “The Judge ruled in favor of the shareholders”, but that’s absolutely not true.

Kristennetten/status/1752484120779956551

The real plaintiff is almost always, and certainly is in this case, the class action law firm

elonmusk/status/1752514941121356247

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@elonmusk Elon Musk on Tesla compensation

July 30, 2017

TechEmails/status/1752460340435325021

Yeah

elonmusk/status/1752517922411716817

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@elonmusk [This document is from Richard J. Tornetta v. Elon Musk (2024).]

TechEmails/status/1752460341882310972

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@elonmusk Is Kathaleen McCormick's decision BS and we, the $TSLA shareholders, approve Elon's comp package?

ajtourville/status/1752523409316065409

Interesting

elonmusk/status/1752523961190252929

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@elonmusk In 2018, 80% of the TSLA shareholders voted favor of a compensation plan that would pay Elon $56 billion if the company met certain goals.

As of 2023, these goals have been met

AdrianDittmann/status/1752490183390560618

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@elonmusk Very

elonmusk/status/1752531045168337354

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@elonmusk The Delaware Chancery Court’s decision to strike down Tesla’s deal with Elon is a threat to the future of capitalism.

1752692001466708142


Exactly

elonmusk/status/1752709418893050330

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https://twitter.com/VivekGRamaswamy/status/1752692001466708142

@elonmusk Delaware Chancery Court Chief Judge Kathaleen McCormick’s decision voiding Elon Musk’s $55.8B comp plan: “This decision dares to boldly go where no man has gone before, or at least where no Delaware court has tread.

1752471606943781214

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@elonmusk garyblack00/status/1752480359105663267

cites NY Times article

Elon Musk’s Tesla Pay Package Is Voided by Judge


- nytimes.com/2024/01/30/bus…