Elon Musk. Photo credit: Steve Jurvetson via Wikimedia Commons. As 2023 Closes, Here's the Delaware Litigation Elon Musk Still Needs to Worry About
More than a year after trial, there's still no Court of Chancery ruling on whether Tesla's compensation plan for Musk, valued at $56 billion, was fair to shareholders and properly vetted by Tesla's directors.
December 07, 2023 at 06:02 PM
4 minute read
Technology Media and Telecom
Delaware undoubtedly got the most Elon Musk-related publicity in 2022, with the Court of Chancery serving as the venue for Twitter's contentious battle with the billionaire over a broken deal worth $44 billion. But while interest from the general public faded when Musk and Twitter reached an agreement and that case was dismissed, Delaware continued to see litigation against Musk in 2023, and cases involving corporate, employment and securities law are still in progress heading toward 2024.
Tesla and Musk
More than a year after trial in Tornetta v. Musk, there's still no Court of Chancery ruling on whether Tesla's compensation plan for Musk, valued at $56 billion, was fair to shareholders and properly vetted by Tesla's directors. The case, for which post-trial argument was held in February, has now been open in Delaware for five and a half years.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Zoom Faces Intellectual Property Suit Over AI-Based Augmented Video Conferencing
3 minute read
Etsy App Infringes on Storage, Retrieval Patents, New Suit Claims
3rd Circ Orders SEC to Explain ‘How and When the Federal Securities Laws Apply to Digital Assets’
5 minute read
Elon Musk Has a Lot More Than a 'Tornetta' Appeal to Resolve in Delaware
5 minute readTrending Stories
- 1Big Law Firms Sheppard Mullin, Morgan Lewis and Baker Botts Add Partners in Houston
- 2Lack of Jurisdiction Dooms Child Sex Abuse Claim Against Archdiocese of Philadelphia, says NJ Supreme Court
- 3DC Lawsuits Seek to Prevent Mass Firings and Public Naming of FBI Agents
- 4Growth of California Firms Exceeded Expectations, Survey of Managing Partners Says
- 5Blank Rome Adds Life Sciences Trio From Reed Smith
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
