Elon Musk replacing office office and Tesla He confronted the law of law of law, the fight against the Muskilio dollar compensation of its electric car company, the sources known to the issues confirmed by ABC news.
Proposed State Legislation Delaware General Law would change the law to determine whether a shareholder is named “controller” to determine the rules block Since he received a $ 55.8 million compensation for last year’s Tesla.
Musk lost his compensation package. He has been the Director General of Public Corporate History. After acknowledging as a “controller” of Tesla, he had less than a third of the company’s shares.
According to existing law, the shareholders below the third threshold receive a “driver” classification if they do some controlways. In contrast, the proposed law believes that a shareholder maintained at least one third of the company’s shares.
Proposed legislation proposed by law according to Musk’s Tesla compensation package, whether it may appeal to the Supreme Court of State. The invoice has no mention of quotation lacking explicit mention. cases.
Musk and Tesla, Richards, Layton Office of law firm & Fingers, ABC News confirmed the involvement of writing legislation. The company claimed legislation, if it is data, it would not be retrograde and the case in Musk would not propose.
The company also said the process of the process “was not affected by customers or otherwise affected”, emphasizing draft draft and a group of lawyers who have helped companies have more than 125 years of age.
On March 29, 2021, the photo of the file, the Aerial view of Tesla Shanghai Gigafactory shows Shanghai, China.
Xiaolu Chu / Getty Images, File
“Many recognize that some statutory changes are required to restore the basic principles of Delaware more than a century and Delaware continues to be the main jurisdictions for the built-up”, Richards, Layton & Finger President Lisa Schmidt wrote on a statement of ABC news.
Bill’s sponsors, Bryan Townsend Senator Delaware, claimed the bill, “is not retrograde and should not affect Eleon Musk’s compensation package, Teslako”.
The village also emphasized Richards, a proturator of Layton & Finger was invited to advocate legislation as an industry expert and as a member of the Board of Delaware State Board, along with many other experts, and legislators were responsible for the last draft of the invoice.
But other legal experts told ABC news that the proposed laws may provide the Delaware Court to revise and pay for its decision.
Bill has explicit mentioned cases forbidden in cases where the discovery of courts change the result of the Muscle case.
“It is possible,” Sarath Sanga, Professor of Corporate Law at Yale University, said the proposed laws about potential use to revive Musk’s payment package. “There is nothing in the law that requires nothing and prevents anything.”
Ann Lipton, a professor at Tulane University said that there is no stipulation that the application could prevent the application in the cases of waiting for the court may have a sign of court.
“Delaware sends a great sign to the Supreme Court that we want to interpret this, that is, Elon return his payment package,” Lipton said.
Professor of Boston College was not clear whether legislation will be retroactive, but it has been added, “the court is reversing the trial opinion for reasons related to this correction, and for reasons for re-established the package.”
Kathalen McCormick chancellor, supervised by the Trade Court, oversees the Delaware Trial Court, rejected the 2018 Compensation package that voted.
McCormick discovered that negotiations around the package were inappropriate because of the lack of independence between the directors and the impact of Musk’s influence on negotiations.
The analysis applied to Musk for changes in law changes could easier to review the judgment of the courts, some experts said to ABC news.
The proposed law prevented the typical processing process before the Corporate Law Council, section of the Delaware Bar Association, Sanga said. He said he could not remember that the proposed laws of independence was not going to that process.
