Tag • #elon musk

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Elon Musk denies tweets misled Twitter investors ahead of purchase

news.movim.eu / ArsTechnica · Friday, 5 July - 20:14 · 1 minute

Elon Musk denies tweets misled Twitter investors ahead of purchase

Enlarge (credit: Marc Piasecki / Contributor | Getty Images Entertainment )

Just before the Fourth of July holiday, Elon Musk moved to dismiss a lawsuit alleging that he intentionally misled Twitter investors in 2022 by failing to disclose his growing stake in Twitter while tweeting about potentially starting his own social network in the weeks ahead of announcing his plan to buy Twitter.

Allegedly, Musk devised this fraudulent scheme to reduce the Twitter purchase price by $200 million, a proposed class action filed by an Oklahoma Firefighters pension fund on behalf of all Twitter investors allegedly harmed claimed. But in another court filing this week, Musk insisted that "all indications"—including those referenced in the firefighters' complaint—"point to mistake," not fraud.

According to Musk, evidence showed that he simply misunderstood the Securities Exchange Act when he delayed filing a Rule 13 disclosure of his nearly 10 percent ownership stake in Twitter in March 2022. Musk argued that he believed he was required to disclose this stake at the end of the year, rather than within 10 days after the month in which he amassed a 5 percent stake. He said that previously he'd only filed Rule 13 disclosures as the owner of a company—not as someone suddenly acquiring 5 percent stake.

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Le Tesla Roadster ne roule pas, mais Elon Musk annonce déjà qu’il volera

news.movim.eu / Numerama · Monday, 17 June - 09:53

En plus d’accélérations stratosphériques, Elon Musk promet que le futur Tesla Roadster pourra voler. Quel crédit donner à cette dernière déclaration du patron de Tesla ?

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Le salaire d’Elon Musk va dépasser celui de tous les grands patrons réunis

news.movim.eu / Numerama · Friday, 14 June - 14:39

Elon Musk a finalement eu la réponse qu'il voulait : il va pouvoir toucher 56 milliards de dollars pour son poste en tant que patron de Tesla. La somme, qui aurait pu être bloquée par certains actionnaires, est absolument énorme : aucun autre patron au monde ne touche autant.

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Elon Musk’s $45bn Tesla pay package not a done deal, say legal experts

news.movim.eu / TheGuardian · Friday, 14 June - 12:48

Although shareholders have backed the chief executive’s remuneration deal, doubts remain over whether he will be able to access the share-based package

Tesla’s battle to reinstate Elon Musk’s $45bn (£35bn) pay package is far from over, according to legal experts, despite shareholders backing the chief executive’s remuneration deal.

Investors in the electric carmaker re-ratified the pay deal on Thursday after it had been struck down by a judge in the US state of Delaware. However, doubts remain over whether Musk will be able to access the share-based package.

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Tesla shareholders approve CEO Elon Musk’s $45bn pay package

news.movim.eu / TheGuardian · Thursday, 13 June - 21:13

Billionaire fought to retain largest-ever compensation package granted to an executive at a US-listed company

Tesla shareholders have approved a $45bn pay deal for CEO Elon Musk, following a fiercely contested referendum on his leadership.

The result, announced on Thursday, comes as the billionaire tycoon fights to retain the largest-ever compensation package granted to an executive at a US-listed company.

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Elon Musk says Tesla shareholders voting to back $56bn pay deal

news.movim.eu / TheGuardian · Thursday, 13 June - 08:04

Electric carmaker’s CEO faces crunch vote before its AGM over biggest pay package in US corporate history

Elon Musk has claimed Tesla shareholders are voting by a wide margin to approve his $56bn (£44bn) compensation package before the electric carmaker’s crunch annual general meeting later on Thursday.

The pay package, which is the highest ever awarded to the chief executive of a US company, is subject to an investor ballot after it was thrown out by a US judge earlier this year . Shareholders will also vote on Musk’s proposal to move the legal base of the electric carmaker to Texas.

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Should Tesla pay Elon Musk $45bn? The shareholders will decide

news.movim.eu / TheGuardian · Thursday, 13 June - 06:00

Thursday vote seen as referendum on CEO’s leadership after judge struck down ‘unfathomable’ pay in January

Tesla shareholders will decide late Thursday whether to award CEO Elon Musk a pay package worth around $45bn in what has become a referendum on the tech mogul’s leadership and a source of fierce legal contention at his electric car company.

A Delaware chancery court judge nullified Musk’s pay package in January. Chancellor Kathaleen McCormick ruled that the board’s process of reaching the dollar figure, which she called “unfathomable”, was illegitimate and that Musk’s ties with board members were too extensive for them to be considered independent.

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Elon Musk sued by SpaceX engineers claiming they were illegally fired

news.movim.eu / TheGuardian · Wednesday, 12 June - 17:34

Musk ordered firings after engineers raised concerns about alleged sexual harassment and discrimination, lawsuit says

SpaceX and its chief executive, Elon Musk , have been sued on Wednesday by eight engineers who say they were illegally fired for raising concerns about alleged sexual harassment and discrimination against women, their lawyers have said.

The eight engineers include four women and four men and claim that Musk, who owns the rocket-maker, electric carmaker Tesla and the social media platform X, formerly Twitter, ordered their firing in 2022.

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Is the Tesla board in charge of a public company or the Elon Musk fan club? | Nils Pratley

news.movim.eu / TheGuardian · Wednesday, 12 June - 05:00

If Musk is awarded an astronomic $56bn pay award for a second time, it will amount to an astonishing lack of self-reflection

One reasonable view of the great Elon Musk pay affair says Tesla shareholders should stick to their guns and approve the astronomic $56bn award for a second time, thereby sending a message to the interfering Delaware judge who cancelled the 2018 scheme that they’re quite capable of making up their own minds, thanks very much.

That, roughly speaking, is the stance of Baillie Gifford, a big investor in the electric vehicle company since the early days. “We agreed the remuneration package with Tesla back in 2018 because it introduced extremely stretching targets that would make a huge amount of money for shareholders if they were reached,” Tom Slater, manager of the FTSE 100 Scottish Mortgage Investment Trust, told the Financial Times last month. “Having agreed to that, we believe that it should be paid out.” Fair enough, the line has the virtue of consistency: we understood what we were voting for, and a deal’s a deal.