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Here's How Elon Musk's $56B Executive Comp Loss Could Reverberate
Shortly after Chancellor Kathaleen St. J. McCormick issued her post-trial opinion finding Elon Musk's $56 billion compensation agreement with Tesla should be rescinded, Musk posted one possible takeaway: "Never incorporate your company in the state of Delaware."Tesla Shareholder Wins Challenge to Elon Musk's Tesla Comp Package
Chancellor Kathaleen McCormick concluded Musk was a controller of Tesla under Delaware law, putting the burden of entire fairness on his defense team from Cravath, Swain & Moore and Ross Aronstam & Moritz.Ability to sue corporate officers for fiduciary violations was not a "power, preference, or special right" of a class of stock and thus a proposed amendment to add an officer exculpation clause did not require a separate class vote under the Delaware General Corporation Law.
Who Got the Work: Gibbons Director Enters to Defend Verizon in Shareholder Derivative Suit
Gibbons director of business and commercial litigation Samuel I. Portnoy has entered an appearance for Verizon's top officers in a pending shareholder derivative lawsuit.Law Firm Litigation Puts Partners' Associate Feedback Under Microscope: The Morning Minute
The news and analysis you need to start your day.FRCP 7.1 Business Organization Statement is 'Judicial Document', Presumed Accessible
Commonality of Plaintiffs in Regards to Stocks Grants Class Certification
Court granted the application of a plaintiff team to lead a consolidated derivative action where counsel had organized the stronger litigation team and the selected plaintiffs consistent of public agencies/officials with extensive financial experience.
Chancery court erred in adopting West Virginia court's factual findings through judicial notice where such facts were disputed by the parties to the present action.
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Law Firm Operational Considerations for the Corporate Transparency Act
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