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February 02, 2024 | Litigation Daily

Litigators of the Week: Rolling Back Elon Musk's $56B Tesla Compensation Package

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."
10 minute read
December 13, 2023 | Delaware Business Court Insider

Delaware Transaction Law Lineage Laid Out in Long-Awaited Match Group Argument

It's time to draw some lines on where so-called "MFW creep" ends, Delaware Supreme Court justices said during argument in the Match Group shareholder appeal.
4 minute read
December 07, 2023 | Delaware Business Court Insider

As 2023 Closes, Here's the Delaware Litigation Elon Musk Still Needs to Worry About

More than a year after trial, there's still no Court of Chancery ruling on whether Tesla's compensation plan for Musk, valued at $56 billion, was fair to shareholders and properly vetted by Tesla's directors.
4 minute read
October 06, 2023 | Corporate Counsel

SEC Asks Court to Intervene in Twitter Probe, Citing Musk's 'Blatant Refusal' to Testify

An attorney for Elon Musk told the SEC in a letter that conducting another interview is overkill after it did two last year. He suggested the agency was acting in bad faith.
6 minute read
August 17, 2023 | Delaware Business Court Insider

What's Fair Enough Is Fair: Entire Fairness Decisions Show M&A Perfection Not Required

Historically, it's been a rarity for a defendant to win once the notoriously stringent entire fairness has been applied as the standard of review in a Chancery case. But that may be changing.
5 minute read
June 01, 2023 | New York Law Journal

Plaintiffs in Securities Fraud Class Action Against Elon Musk Seek to Add Insider Trading Allegation

The suit accuses Musk and Tesla of manipulating the market for the Dogecoin cryptocurrency and causing billions of dollars in losses to investors. The original complaint was filed by Evan Spencer of Evan Spencer Law in June 2022.
3 minute read
March 29, 2023 | Delaware Business Court Insider

Shareholders Argue Chancery Decision Gave Tesla a License for Self-Interested Deals

Lawyers for the automaker argued that the shareholders' complaints, including the lack of an independent committee to steer negotiations, couldn't be examined in isolation.
3 minute read
March 08, 2023 | The Recorder

'Flawed and Prejudicial': Investors Ask for New Trial After Defense Verdict in Case Over Elon Musk Tweets

Attorneys from Levi & Korsinsky argued that the Feb. 3 verdict "was the result of an erroneous deliberation process influenced by prejudicial and improper attorney argument, speculative testimony, and confusing jury instructions."
3 minute read
February 10, 2023 | Litigation Daily

Litigators of the Week: Defense Verdict Secured By Quinn Emanuel in Multibillion Securities Trial Over Musk's Go-Private Tweets

Quinn's Alex Spiro, Andrew Rossman and Bill Price got a defense verdict finding Elon Musk and Tesla weren't liable for investor losses after Musk's 2018 tweet that he had "funding secured" to take Tesla private.
8 minute read
February 08, 2023 | Litigation Daily

Is California's Northern District Becoming a New Hub for Securities Mega-Settlements?

Of the top 10 securities settlements tracked by ISS Securities Class Action Services in 2022, three were in the Southern District of New York and two occurred in the Northern District of California. Robbins Geller alone had had two more proposed nine-digit deals hit the NDCA docket in the past three months.
4 minute read

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