According to a lawsuit filed by Tesla shareholder Richard Tornetta, he believes the pay package Musk received in 2018 was excessive, even though it was voted on and approved by shareholders at the time. However, this package doesn’t require Musk to have control of Tesla as CEO at all times, and most binding contracts with these types of packages do.
So this package essentially allows Elon Musk to sit back and do nothing and just get richer at the expense of his employees, which he considers considering that Tesla stock values have increased by over 1000% since signing this document in 2018. have risen. Judge Kathleen McCormick believes Tornetta is correct and will preside over the case, which will last five days, beginning in late October.
Could Elon Musk Lose Control of His Tesla Stock and Possibly Go to Jail for Twitter?
This is the same judge who is leading the case that Twitter filed against Musk for pulling out of the $44 billion deal to buy the company when he got into a major dispute with management over the amount of spam -Bots gotten into the app, or at least he accused them of being spam bots, Twitter actually refuted that claim by saying that they are actually legitimate users and that Elon is just trying to make a case of buyers’ remorse to be eliminated quickly.
Judge McCormick could end up putting Musk’s feet on the fire in more ways than one. If he loses the case, it’s really unclear if he would follow the court’s ruling to force him to cough up the money… in this case…
At the very least, Elon Musk could be found for contempt of court.
If so, then that could very well be a criminal offence. Pretty wasted, don’t you think? But in a fitting twist on a moral tale, perhaps Elon’s heart will grow three sizes when he lands in the slammer, and he will recognize the flaws in his ways and begin giving his fortune to the poor and sick, and supporting an estate of orphaned children in the world, this could be a really big comeback story for him. Or maybe he could just give us a few weeks of good night feed, just like Martha Stewart and Snoop Dogg did back in the day. Stay tuned!!!
https://dailysoapdish.com/2022/07/could-elon-musk-lose-control-of-his-tesla-stock-and-possibly-go-to-jail-over-twitter/ Could Elon Musk lose control of his Tesla stock and possibly go to jail over Twitter?