A team led by Greg Varallo and Jeroen van Kwawegen of Bernstein Litowitz Berger & Grossmann and David Tejtel of Friedman Oster & Tejtel secured a post-trial ruling from Delaware Chancellor Kathaleen McCormick finding that when it came to the Tesla CEO’s pay package “Musk launched a self-driving process, recalibrating the speed and direction along the way as he saw fit.”
February 02, 2024 at 07:30 AM
10 minute read
Editor/columnist
The question of whether Elon Musk was the “controlling shareholder” at Tesla while his record pay package was being hashed out was one of the central legal questions facing Delaware Chancellor Kathaleen McCormick.
After a five-day trial last year, McCormick this week gave a pretty emphatic answer in her 200-page opinion rescinding the $55.8 billion deal: Musk, at least as it came to this transaction, was in control.
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L-R:Greg Varallo and Jeroen van Kwawegen of Bernstein Litowitz Berger & Grossmann and David Tejtel of Friedman Oster & Tejtel. Courtesy photos
