Elon Musk isn't just fighting for his massive pay package—he's taking on Delaware's entire legal system. After a Delaware judge struck down his nearly $100 billion compensation package from Tesla, Musk wasted no time criticizing the state's Court of Chancery,
With help from famed former judge Leo Strine, Delaware lawmakers have raced to propose a bill friendlier to controlling stockholders as the state scrambles to protect its $2 billion legal economy.
The legislation would amend Delaware General Corporation Law and could pave the way for the reinstatement of Musk’s 2018 CEO pay package at Tesla.
Elon Musk went to war with Delaware over its corporate laws after a judge shot down his massive Tesla pay package, moving his companies out west. Now the First State is responding with a legislative overhaul to keep other moguls from following him.
A federal court granted a motion sought by Delaware and others blocking the Department of Government Efficiency from accessing private information.
A law firm representing Elon Musk and Tesla helped draft a bill some experts say could, if passed, possibly restore Musk's lost multibillion-dollar compensation package.
After a bruising battle with Elon Musk, the state where most of the S&P 500 is incorporated, is making itself more pliable for boards and big shareholders.
The proposed bill, which was posted on the Delaware General Assembly’s website on Monday, would make it more difficult for shareholders to show that a corporate director is “conflicted” in a deal, a legal status which makes it easier to prove the transaction was unfair to ordinary shareholders.
Divisions under the Department of Health and Social Services will present their requests to committee members.
Meta, AI entrepreneurs, academics, and other charities and activists are criticizing the startup's plan to shed its ties to its nonprofit parent.
More CEOs fed up with Delaware and its powerful Chancery Court are going the way of Elon Musk, reincorporating their companies elsewhere and publicly airing their frustrations. These so-called "Dexits" would follow Musk-led companies Tesla (TSLA), SpaceX ...
More than two-thirds of the Fortune 500 is incorporated in Delaware, but Tesla CEO Elon Musk’s criticism of the state’s courts has coincided with other major companies leaving the state.