Go to Article
Excerpt from abovethelaw.com
(Photo by Apu Gomes/Getty Images)
A couple years back, Elon Musk threatened to drop Cooley LLP unless they fired a newly hired associate who had just joined from the SEC. Cooley responded with a resounding “nope.” Alas, Musk might not have learned his lesson from this incident, as a new filing in Delaware Chancery alleges that Musk, acting through Tesla, leaned on Holland & Knight to halt a renowned professor from filing an amicus brief.
Professor Charles Elson sought to provide additional insight on Delaware corporate law in the ongoing fight over Tesla’s plan to hand Musk personally $56 billion — a waste of corporate value that Tesla’s meme stock investors confuse for a brilliant move. The court already rejected that payment, but now Tesla is trying to use a shareholder vote to overcome the Delaware ruling, something that Professor Elson notes is “unprecedented,” which is a more professional phrasing for “utterly bonkers.”
About The Author
