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Corporate Governance Elon Musk

Thomas Fox - Compliance Evangelist

Daily Compliance News: April 17, 2025, The Musk Fights BEE's Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy morning coffee, and listen to the Daily Compliance News. All, from the...more

Allen Matkins

Après Musk, Le Déluge

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I began writing about Nevada corporate law more than three decades ago with an article for the California Business Law Reporter entitled "The Nevada Corporation: Is it a Good Bet?"  Over the years, I have written several...more

BCLP

Disconnecting Companies: DOJ and FTC Push for Broader Interlocking Directorate Liability

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On January 10, 2025, the Department of Justice and the Federal Trade Commission filed a statement of interest in Musk v. Altman, signaling a late push by the government to expand the scope of liability for interlocking...more

Cooley LLP

SEC files complaint against Elon Musk alleging violation of Section 13(d)

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On Tuesday, the SEC filed a complaint in the D.C. federal district court alleging that Elon Musk ignored the Section 13(d) beneficial ownership reporting deadline when, in March 2022, he acquired more than 5% of outstanding...more

Allen Matkins

Tornetta v. Musk - Too Many Words!

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After the premiere performance of Mozart's singspiel Entführung aus dem Serail (The Abduction from the Seraglio) in Vienna’s old Burgtheatert, Emperor Joseph II of Austria reportedly quipped "Too many notes, dear Mozart, too...more

Bradley Arant Boult Cummings LLP

Mr. Musk Goes (Unhappily) to Delaware (Again): Takeaways From Musk’s Legal Saga for Private Company Owners

Delaware Chancellor Kathaleen McCormick held again last week that the pay package that Tesla’s board of directors awarded to Elon Musk in 2018 suffers from “fatal flaws,” and it was therefore rejected. This was the second...more

Mayer Brown

DGCL Amendments Proposed to Address Recent Delaware Court of Chancery Decisions Affecting Stockholder Agreements, Board Approvals...

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Three recent decisions from the Delaware Court of Chancery (the “Court”) have upended long-standing market practice related to, among other matters, stockholder agreements, board approvals of merger agreements and the...more

Lowenstein Sandler LLP

Corporate Governance Takeaways Following Rescission of Elon Musk’s $55.8 Billion Equity Compensation Package

“Was the richest person in the world overpaid?” That’s how the Delaware Court of Chancery (the Court) began the 200-page opinion in Tornetta v. Musk to rescind Elon Musk’s entire $55.8 billion 10-year equity compensation...more

A&O Shearman

Was the richest person in the world overpaid?

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Chancellor Kathleen McCormick of the Delaware Court of Chancery grappled with this question in a recent derivative lawsuit challenging Tesla’s performance-based equity award with a potential USD55.8 billion maximum value and...more

Fenwick & West LLP

Delaware Chancery Court Orders Recission of Elon Musk Moonshot Grant in Important Case on Transactions with Potential Corporate...

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Background on Moonshot Award Practices - In the years leading up to the slowdown in the IPO markets in late 2021, it had become increasingly common for high-growth technology companies to grant large equity incentive...more

Farrell Fritz, P.C.

Out of Control! What the Elon Musk Compensation Case Reminds Us about Transactions with Controlling Stockholders

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Process still matters.  That’s the main takeaway from the Delaware Court of Chancery’s 200-page opinion striking down Tesla’s 2018 incentive package awarded to Elon Musk.  The court rescinded the incentive package mainly...more

Moore & Van Allen PLLC

Directors and executives take note: Delaware court voids Elon Musk’s $55B Tesla pay package

”Was the richest person in the world overpaid?” That is the question that the Delaware Court of Chancery answered in its Jan. 30, 2024, decision in the shareholder derivative action Tornetta v. Musk, et al., C.A. No....more

Wilson Sonsini Goodrich & Rosati

Delaware Court of Chancery Addresses Benefit-of-the-Bargain Damages in Busted Deals and Who Can Seek Them

On October 31, 2023, in Crispo v. Musk, Chancellor Kathaleen St. J. McCormick of the Delaware Court of Chancery issued a decision addressing an important question that arises in mergers and acquisitions: if one of the parties...more

Hogan Lovells

In re Tesla: fair price may ameliorate procedural defects under entire fairness review - Corporate / M&A Decisions update series

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Tesla Motors Stockholder Litigation arises out of Tesla’s acquisition of SolarCity, a market leader in manufacturing and installing solar energy generation systems. On two occasions in 2015 and 2016, Elon Musk suggested to...more

Goodwin

Delaware Chancery Court Reemphasizes Importance of Properly Handling Board Conflicts in Ruling for Elon Musk in SolarCity Case

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On April 28, 2022, Vice Chancellor Slights of the Delaware Chancery Court issued a verdict for the defense in In re Tesla Motors, Inc. Stockholder Litigation, a long-running derivative lawsuit challenging the 2016 acquisition...more

BCLP

Securities and Corporate Governance Update – July 2019

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This newsletter discusses noteworthy updates, key regulatory decisions and upcoming compliance reminders. ...more

Stoel Rives LLP

In Case You Missed It - Interesting Items for Corporate Counsel - March 2019

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Heaping further empirical evidence on the postulate that self-indulgence trumps common sense, Elon Musk is at it again, now charged by the SEC with violating his earlier settlement agreement, which required that he pre-clear...more

Morris James LLP

Delaware Corporate and Commercial Case Law Year in Review - 2018

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This top ten list summarizes significant decisions of the Delaware Supreme Court and the Delaware Court of Chancery over the past calendar year 2018. Originally published in Transaction Advisors....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Federal prosecutors filed criminal charges yesterday against two former Goldman Sachs investment bankers for their alleged role in the Malaysian 1MDB scandal....more

Dorsey & Whitney LLP

The SEC’s Recent Settlement with Tesla and Elon Musk Teaches Us a Valuable Corporate Governance Lesson

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The SEC’s settlement with Tesla and Elon Musk teaches us some important corporate governance lessons on monitoring and vetting executive use of social media. As background, on August 7, 2018, the markets were surprised by...more

A&O Shearman

Tesla, Musk Settle Tweet-Related SEC Charges

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On September 27, 2018, the United States Securities and Exchange Commission (“SEC”) charged Elon Musk, the Chairman and CEO of Tesla, Inc., a publically-traded California-based technology company that specializes in electric...more

Stoel Rives LLP

In Case You Missed It - Interesting Items for Corporate Counsel - September 2018

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Much has been written about what on earth Elon Musk was thinking when he tweeted last month: “Am considering taking Tesla private at $420. Funding secured.” The tweet led to a 9% spike in Tesla’s stock price and to a...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 7.25.16

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The bids are all in, and Verizon’s the big winner. Well, both “big” and “winner” are relative, especially with news of a brutal Q2 for Marissa Mayer and her crew, but nevertheless, Yahoo’s core business is now Verizon’s in...more

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