A shareholder with 9 shares screws Musk out of 55 Billion

[Pekelo]

Show me where they lied.

I think the whole court case was about undue influence by Elon over the board members. So it wasn't about the actual amount.

"The judge did not void it because of the amount, but because of the process. They’re not in the business of judging the fairness of the amount."

If you want to read more about it:

https://www.reddit.com/r/path%3D%252Fr%252Fwallstreetbets%252Fcomments%252F1af4tgs%252F

 

[engineering]

Tell me what was published here that is false:
https://www.globenewswire.com/news-...ong-Term-Performance-Award-for-Elon-Musk.html

 

[Pekelo]

Tell me what was published here that is false:
https://www.globenewswire.com/news-...ong-Term-Performance-Award-for-Elon-Musk.html

Read the thread above:

"The court didn't decide how much he makes, that is TBD, but it did go in to the process that established the pay scheme and found it completely driven by Elon with the board not doing close to its duty to shareholders. Hence not only in this universe but in the USA the award was rescinded. The Judge has a well deserved reputation for being absolutely by the book, I'm certain if anyone looks for 'improprieties' they won't find any."

 

[engineering]

board not doing close to its duty to shareholder

Which is BS because the shareholders voted on it.

This decision is literally telling the shareholders that they don't have the right to approve deals and that an unelected political appointee who is obviously beholden to the governor for their job can step in and void deals at will based on vague allegations of "influence".

Show me where data presented to the shareholders by the board was false.

Show me where someone was bribed.

Show me where Elon has any more influence on the board than the governor had on this judge. Why should her verdict not be subject to tossing out on the same nebulous standard?

A big reason why corporations even exist is for people to be able to do highly speculative things.
The deal could have been a disaster for Elon if he'd failed to deliver.

 

[SunTrader]

...
The deal could have been a disaster for Elon if he'd failed to deliver.

How so engineer?

Seems to me - a non-legal expert - like heads I win, tails I win.

 

[Pekelo]

I am not reading your posts anymore just keep quoting from the thread:

"Musk misrepresented easy goals as stretch goals to secure a shareholder vote. That's like 50% of the reason he's on the hook for paying back the $55b.

The other 50% is that he proposed his own compensation package and then got the board to tell investors it was proposed by an independent compensation analyst."

"This is what happens when you go away from the system. I'm sure there have been other cases but not for 55 billion. So what is the play now? Renegotiate the deal after he made the moonshot? That seems a little unfair as most of the comp was for hitting stretch goals."

 

[newwurldmn]

The shareholders voted for it. Who the hell is this judge to insert herself in and void a deal approved by the majority of shareholders?
Have you spent even 2 seconds thinking about what kind of precedent this sets?

An non-elected political appointee can step in after the fact and completely void a deal agreed to by the company, the ceo and the majority of shareholders.



Show me where they lied. Nonspecific allegations of "being misleading" are not credible. I suspect that if I dig a little I'll find out that the details of the deal we available to the public prior to the vote.

You should do the digging.
I’m just telling you the arguments that the suing shareholders made.

The judge didn’t just insert himself. A lawsuit was brought, evidence was presented by both sides, arguments were made by both sides and the judge made his decision (which is his job).

 

[maxinger]

Who is this powerful 9 shares shareholder?

Did he act alone?

 

[engineering]

The Judge has a well deserved reputation for being absolutely by the book, I'm certain if anyone looks for 'improprieties' they won't find any."

But the standard this ruling sets doesn't require any improprieties, just vague allegations of influence. The way the judge got their seat, they are obviously open to influence by the governor.

 

[engineering]

which is his job)

The judge's job is to rule in accordance with the law and established precedence.

Show me another case where a shareholder vote has been overturned, based on vague allegations brought by what appears to be a sock puppet.
(Someone can only buy nine shares but they can afford to sue? Really?)