Delaware: Delaware Court and Peers

delaware: A judge on Friday denied Tesla's request to dismiss the lawsuit, according to CNN. Vice Chancellor Joseph Slights, of the Delaware Court of Chancery, wrote that while Tesla disputed how much the package is worth, it is reasonably conceivable that the award is well in excess of that paid to Musk's peers. The electric car company was sued by a shareholder in June 2018 over allegations of corporate waste and unjust enrichment. Tesla did not immediately comment on Saturday about the decision. The basic premise is simple Elon's compensation will be 100% aligned with the interests of our stockholders, the board wrote. In a February 2018 proxy statement, Tesla's board wrote that it created this pay package to incentivize Musk to grow Tesla's market capitalization. (news.financializer.com). As reported in the news.