Shareholder

Elon Musk’s X Holdings Ordered to Unveil Secret Shareholder List: Transparency Push Opens Doors to Corporate Depths

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SAN FRANCISCO — A California federal court ruling has mandated that X Holdings, the parent company behind Elon Musk’s X platform and X.ai, disclose its complete list of stakeholders. This decision could significantly reveal the influencers behind the company known until recently as Twitter, which Musk acquired in 2022 for $44 billion. The court order followed a lawsuit from former Twitter employees seeking unpaid arbitration fees. The case also attracted the interest of freelance journalist Jacob Silverman, supported by the Reporters Committee for Freedom of the Press, who petitioned for the transparency of X Holdings’ … Read more

Tesla Seeks to Overturn Court Decision on Musk’s Pay through Unprecedented Shareholder Vote

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Wilmington, Del. — Tesla is pursuing an unusual legal move to reinstate a $56 billion compensation package for CEO Elon Musk, contrary to a previous court decision that voided the agreement. The automaker insists that a second approval from its shareholders should supersede the earlier ruling by the Delaware Chancery Court, sparking a debate over the power of stockholder votes versus judicial authority. In January, Chancellor Kathaleen McCormick of the Delaware Court of Chancery ruled against the compensation plan initially approved in 2018, which could have granted Musk stock worth more than $55 billion based … Read more

Tesla Shareholder Lawyers Seek $6 Billion in Attorney Fees from Elon Musk’s Voided Compensation Package

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Wilmington, Delaware – Lawyers representing a Tesla shareholder have successfully contested Elon Musk’s $56 billion compensation package, arguing that the CEO does not deserve such a substantial reward for his work at the electric vehicle company. The lawyers are now requesting that a portion of the compensation package be allocated to them in attorney fees, which would amount to around 11% of the package, or approximately $6 billion worth of Tesla shares. In a filing submitted to a Delaware court, the attorneys asserted that their litigation work warranted a fee of about 11% of the … Read more

Netflix Successfully Defends Itself Against Legal Battle, Exonerated in Shareholder Lawsuit on Account-Sharing Disclosures

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LOS GATOS, Calif. (AP) — Netflix, the popular streaming service, has successfully defeated a lawsuit filed by shareholders seeking compensation for alleged misleading disclosures regarding account-sharing. The ruling was made on January 8th, 2024, by a U.S. District Judge in Los Gatos. The lawsuit claimed that Netflix had failed to inform shareholders about the potential financial impact of users sharing their accounts with others. This practice, commonly known as account-sharing, allows multiple people to access a single Netflix account. The plaintiffs argued that Netflix’s failure to disclose the prevalence and consequences of account-sharing caused the … Read more