RE:RE:How long has TSLA been around? Ugly SP chart for a whileLookie, lookie, Elon trying to loot his own co Elon Musk is not entitled to a landmark compensation package awarded by Tesla’s board of directors that is potentially worth more than $55 billion, a Delaware judge ruled Tuesday.
The ruling by Chancellor Kathaleen St. Jude McCormick comes more than five years after a shareholder lawsuit targeted Tesla CEO Musk and directors of the company. They were accused of breaching their duties to the maker of electric vehicles and solar panels, resulting in a waste of corporate assets and unjust enrichment for Musk.
The shareholder’s lawyers argued that the compensation package should be voided because it was dictated by Musk and was the product of sham negotiations with directors who were not independent of him. They also said it was approved by shareholders who were given misleading and incomplete disclosures in a proxy statement.
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Tesla’s shares sank by nearly 10 percent on Thursday after Chief Executive Elon Musk signalled the electric vehicle maker will keep cutting prices to drive up demand even after taking a big hit to margins.
The stock was trading at $163, dragging down other automakers. At least 15 analysts lowered their price targets on Tesla, whose market value was on track to drop by $50bn to about $517bn, if losses hold.
Well Frenchie...perhaps you need to "smarten up" or perhaps your head is so far up Elon kiester...can't see the basic truth, before you start calling others dumb....look in mirror