135

Tesla board to return $735 million in stock awards to end lawsuit (www.autoblog.com)

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

2 comments fedilink hide all child comments

Tesla board to return $735 million in stock awards to end lawsuit::Tesla Inc. directors, including co-founder Elon Musk, agreed to return more than $735 million in stock awards to settle an investor lawsuit.

you are viewing a single comment's thread
view the rest of the comments

[-] topinambour_rex@lemmy.world 3 points 1 year ago

The case is the Police and Fire Retirement System of Detroit v. Musk, 2020-0477, Delaware Chancery Court (Wilmington).

Do retirements funds invests in stocks ? Didnt they learned from 2007 ?

[-] DefiantTostada@lemmy.world 2 points 1 year ago

Two points:

It's the fiscally responsible thing for these pension funds to do. They have diversified investments, including S&P500 stocks. I hope the police and firefighter pension realized all those TSLA gains.
Institutional investors have POWER, and we don't want all institutional investors to be investment banks. Why isn't it good news that a union pension fund is holding a greedy board accountable for outsized executive pay? These guys saw a material impact in their investments at TSLA due to board BS and sued the board.

this post was submitted on 18 Jul 2023

135 points (99.3% liked)

Technology

59144 readers

2328 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS