Elon Musk is facing a new legal challenge from Tesla and Twitter shareholders who accuse him of abusing his power and making controversial decisions that have negatively impacted their investments. The dispute includes allegations of fraud related to Musk's handling of a leveraged buyout (LBO) merger contract, which shareholders claim he knowingly breached. A group of corporate law practitioners and professors has filed a brief urging the Delaware Supreme Court to overturn the Delaware Chancery Court's decision in the Tornetta v. Musk case, which concerns Musk's compensation. The ongoing litigation highlights continuing tensions between Musk and investors over his corporate governance and strategic actions.
in the canon of Elon litigation wrote about my new fave: Twitter shareholders who sold stock when Elon was trying to wiggle out LBO and who now allege Musk committed fraud because he knew merger contract was ironclad. His legal defenses are intriguing: https://t.co/Ravq2ilCTe https://t.co/y4HqD3cAQP
Un nou episod din războiul dintre Elon Musk şi investitorii Tesla: Acţionarii furioşi îl dau în judecată acuzând abuz de putere şi decizii controversate care le-au afectat grav investiţiile https://t.co/y5NLYOvTAM
Musk faces new court battle with unhappy shareholders https://t.co/keTupw5hEA | opinion