Elon Musk is keeping Delaware Chancery Court busy. The same judge who shepherded months of contentious discovery in the billionaire’s legal battle with Twitter will preside at trial in a shareholder lawsuit against Tesla’s board over his 2018 pay package, calling it “the largest in human history.”
The Telsa stockholder Richard Tornetta – “individually and on behalf of all others similarly situated” sued board members James Murdoch, Robyn Denholm, Antonio Gracias, Linda Johnson Rice, Brad Buss, Ira Ehrenpries and Musk to invalidate the grant, worth up to 56 billion if the electric automaker achieved certain market cap and financial milestones.
The proceedings are set to start Monday morning with Musk up to his eyeballs in fallout from Twitter since his purchase. There’s Blue-Check chaos, thousands of employees fired and others resigning, the FTC breathing down his neck, advertisers wary, debt payments looming and, as he told staffers, bankruptcy not out of the question.
The Telsa stockholder Richard Tornetta – “individually and on behalf of all others similarly situated” sued board members James Murdoch, Robyn Denholm, Antonio Gracias, Linda Johnson Rice, Brad Buss, Ira Ehrenpries and Musk to invalidate the grant, worth up to 56 billion if the electric automaker achieved certain market cap and financial milestones.
The proceedings are set to start Monday morning with Musk up to his eyeballs in fallout from Twitter since his purchase. There’s Blue-Check chaos, thousands of employees fired and others resigning, the FTC breathing down his neck, advertisers wary, debt payments looming and, as he told staffers, bankruptcy not out of the question.
- 11/12/2022
- by Jill Goldsmith
- Deadline Film + TV
San Francisco, Sep 27 (Ians) Tesla CEO Elon Musk and his Twitter counterpart Parag Agrawal did not depose in an ongoing litigation despite earlier filings in a US court, triggering speculations.
According to a CNN report, citing sources, the dates listed in deposition notices filed with the court are “not always the dates that the two sides agree to officially begin the questioning”.
The absence of Musk and Agrawal marks another twist in the fierce legal case that is slated to begin in the Delaware Court of Chancery in the US from October 17.
The testimony of both “is considered central in the litigation over Musk’s deal to buy — and then his attempt to get out of buying — Twitter for 44 billion,” the report said late on Monday.
Earlier court filings revealed that Musk’s deposition was slated for September 26-27 and may run into September 28 if needed.
Another filing said Agrawal...
According to a CNN report, citing sources, the dates listed in deposition notices filed with the court are “not always the dates that the two sides agree to officially begin the questioning”.
The absence of Musk and Agrawal marks another twist in the fierce legal case that is slated to begin in the Delaware Court of Chancery in the US from October 17.
The testimony of both “is considered central in the litigation over Musk’s deal to buy — and then his attempt to get out of buying — Twitter for 44 billion,” the report said late on Monday.
Earlier court filings revealed that Musk’s deposition was slated for September 26-27 and may run into September 28 if needed.
Another filing said Agrawal...
- 9/27/2022
- by Glamsham Bureau
- GlamSham
San Francisco, Sep 26 (Ians) Tesla and SpaceX CEO Elon Musk is set to depose before the Twitter lawyers earlier this week in the 44 billion takeover deal that he has terminated.
The deposition is slated for September 26-27 and may run into September 28 if needed, according to court filings, reports Benzinga.
The deposition, ahead of the full-blown October 17 legal trial in the Delaware Court of Chancery in the US, will not be a public one.
Earlier, in a minor win for Tesla CEO Elon Musk, a US court allowed his legal team to make a case that a 7.75 million severance payment to Peiter ‘Mudge’ Zatko, Twitter’s former head of security, allows him to terminate the 44 billion takeover deal.
Judge Kathleen McCormick ruled last week that Musk can amend his counterclaims to include the payment to Zatko.
The ruling means that Musk can use the Zatko payment for his argument regarding terminating the deal.
The deposition is slated for September 26-27 and may run into September 28 if needed, according to court filings, reports Benzinga.
The deposition, ahead of the full-blown October 17 legal trial in the Delaware Court of Chancery in the US, will not be a public one.
Earlier, in a minor win for Tesla CEO Elon Musk, a US court allowed his legal team to make a case that a 7.75 million severance payment to Peiter ‘Mudge’ Zatko, Twitter’s former head of security, allows him to terminate the 44 billion takeover deal.
Judge Kathleen McCormick ruled last week that Musk can amend his counterclaims to include the payment to Zatko.
The ruling means that Musk can use the Zatko payment for his argument regarding terminating the deal.
- 9/26/2022
- by Glamsham Bureau
- GlamSham
San Francisco, Sep 25 (Ians) In a minor win for Tesla CEO Elon Musk, a US court has allowed his legal team to make a case that a 7.75 million severance payment to Peiter ‘Mudge’ Zatko, Twitter’s former head of security, allows him to terminate the 44 billion takeover deal.
Judge Kathleen McCormick of the Delaware Court of Chancery in the US, where the legal battle is set to begin from october 17, ruled in a latest filing that Musk can amend his counterclaims to include the payment to Zatko.
The ruling means that Musk can use the Zatko payment for his argument regarding terminating the deal.
Twitter did not oppose the motion, reports Barron’s.
Twitter is also seeking if there is a connection between its former head of security and Musk.
The court has also agreed on a request by Twitter for details about whether Musk or his associates knew about...
Judge Kathleen McCormick of the Delaware Court of Chancery in the US, where the legal battle is set to begin from october 17, ruled in a latest filing that Musk can amend his counterclaims to include the payment to Zatko.
The ruling means that Musk can use the Zatko payment for his argument regarding terminating the deal.
Twitter did not oppose the motion, reports Barron’s.
Twitter is also seeking if there is a connection between its former head of security and Musk.
The court has also agreed on a request by Twitter for details about whether Musk or his associates knew about...
- 9/25/2022
- by Glamsham Bureau
- GlamSham
San Francisco, Sep 23 (Ians) After being hammered by whistleblower allegations, Twitter is now seeking if there is a connection between its former head of security, Peiter ‘Mudge’ Zatko and Tesla CEO Elon Musk.
The Delaware Court of Chancery in the US, where the legal battle is set to begin from october 17, has agreed on a request by Twitter for details about whether Musk or his associates knew about Zatko’s claims before he took them to the public.
Judge Kathleen McCormick on Thursday ordered Musk’s legal team to provide some of the documents being requested by Twitter regarding any communications by them with Zatko.
The court order said that the Musk team should provide documents if any of his associate “had knowledge, whether directly or indirectly obtained from Zatko or any other source, of any criticisms, allegation, opinion, or views relating to Twitter that were made or held by...
The Delaware Court of Chancery in the US, where the legal battle is set to begin from october 17, has agreed on a request by Twitter for details about whether Musk or his associates knew about Zatko’s claims before he took them to the public.
Judge Kathleen McCormick on Thursday ordered Musk’s legal team to provide some of the documents being requested by Twitter regarding any communications by them with Zatko.
The court order said that the Musk team should provide documents if any of his associate “had knowledge, whether directly or indirectly obtained from Zatko or any other source, of any criticisms, allegation, opinion, or views relating to Twitter that were made or held by...
- 9/23/2022
- by Glamsham Bureau
- GlamSham
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