21:58:36 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



Tesla Inc CDRs (CAD Hedged)
Symbol TSLA
Shares Issued 20,000,000
Close 2024-03-14 C$ 15.00
Market Cap C$ 300,000,000
Recent Sedar Documents

FP/wire say winning Tesla lawyers want $6B (U.S.)

2024-03-14 07:44 ET - In the News

The Financial Post reports in its Thursday edition that the judge who threw out Tesla chief executive officer Elon Musk's $55.8-billion (U.S.) pay package said she has received "many communications" from investors about a request from the winning lawyers for almost $6-billion (U.S.) in company stock. A Bloomberg dispatch to the Post says that Delaware Chancery Court Chief Judge Kathaleen McCormick said she will not read the letters since they are from non-parties in the litigation "who claim to hold stock in Tesla." She asked the attorneys to recommend a process for handling the letters. In January, Judge McCormick concluded the compensation plan -- the largest ever given to a corporate executive in the United States -- was excessive and that Tesla's directors were handcuffed by conflicts of interest when they approved it in 2018. The judge also faulted Tesla's public disclosure about the pay package. This month, lawyers representing the investor who challenged the pay package, Richard Tornetta, submitted an unusual request to be paid their fees in stock, which they said would ease the burden on company shareholders. That did not go over well with some investors, who launched a letter-writing campaign.

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