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...
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. "As a matter of contract ...
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...
Last week,Delaware judge Kathaleen McCormicksided with Tesla investors who had challenged the 2018 share-based pay package, ruling that the "unfathomable sum" was unfair to shareholders and negotiated by directors who appeared beholden to Musk. ...
Delaware Chancery Court Judge Kathaleen McCormick voided Musk's stunning $56 billion pay package for a second time, and the Tesla CEO is furious.
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
The move came just weeks after Judge Kathaleen McCormick voided his eye-wateringcompensation packageat Tesla, taking sides with a shareholder who claimed the entrepreneur was overpaid. 'Good job' The very first state to join the union, Delaware and its courts have long played an integral role in...
ST. JUDE MCCORMICK, KATHALEENERIKSON, ROBERTNew York University Journal of Law & Business
(AP) — Elon Musk is not entitled to a landmark compensation package awarded by Tesla’s board of directors that is potentially worth more than $55 billion, a Delaware judge ruled Tuesday. The ruling by Chancellor Kathaleen St. Jude McCormick comes more than five years after a sharehold...
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...