Chancellor Kathaleen McCormick’s December 2 opinion rejected the director defendants’ plethora of objections to her January post-trial decision that the pay plan was a waste of corporate assets and could not pass the entire fairness test. That allowed plaintiff Richard Tornetta to continue his ulti...
Chancellor Kathaleen St. Jude McCormick on Monday denied a request by attorneys for Musk and Tesla’s corporate directors to vacate her ruling earlier this year requiring the company to rescind the unprecedented pay package. McCormick also rejected an equally unpre...
Tesla's board, which Delaware Chancery Court Chancellor Kathaleen McCormick said in her ruling had failed to prove "that the compensation plan was fair" or show much evidence that they had even negotiated with him,has been quietfollowing the decision. But one thing is certain: the Delaware...
Musk is shedding its inconvenient burdens. Perhaps most dramatically, he is locked in a battle with the Delaware Chancery Court overa stunning $56 billion pay package. After court Chancellor Kathaleen McCormickoverturned Tesla’s attemptsto approve the package for a second time,Musk’s subsequent ...
On April 28, 2021, Delaware Governor John Carney announced the confirmation of Wilson Sonsini Goodrich & Rosati partner Lori W. Will as Vice Chancellor in the Delaware Court of Chancery. Lori will replace Kathaleen S. McCormick, who was confirmed to Chan
Chancellor Kathaleen St. Jude McCormick ruled that the terms of the initial LLC agreement are unambiguous and that they prohibit the defendants' attempts to amend it. She said the agreement remains in effect and McMillan and Spicer remain as managing members. ...
ST. JUDE MCCORMICK, KATHALEENERIKSON, ROBERTNew York University Journal of Law & Business
The ruling by Chancellor Kathaleen St. Jude McCormick comes more than five years after a shareholder lawsuit targeted Tesla CEO Musk and directors of the company. They were accused of breaching their duties to the maker of electric vehicles and solar panels, resulting in a waste of corporat...
More recently, a Chancery judge last year ordered private equity firm Kohlberg & Co. to close its $550 million purchase of DecoPac Holdings Inc., which sells cake decorations and technology to supermarkets for in-store bakeries. Vice Chancellor Kathaleen St. Jude McCormick said Kohlberg had faile...
Chancellor Kathaleen St. Jude McCormick ruled that the terms of the initial LLC agreement are unambiguous and that they prohibit the defendants' attempts to amend it. She said the agreement remains in effect and McMillan and Spicer remain as managing members. ...