"Drummer's Criticism and Texas Move: Elon Musk Faces Shareholder Votes and Compensation Package Fallout"

TL;DR Summary
Elon Musk lost a $56 billion pay package in a legal battle brought by former heavy metal drummer Richard Tornetta, who held just nine shares of Tesla. The judge voided the pay deal for being unfair to Tornetta and other shareholders. Tornetta's case highlights the role of individual investors in shaping corporate law and policing boardrooms, as they can bring significant impact despite holding minimal shares. This case serves as a reminder of the influence small shareholders can have in corporate litigation.
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- The Lawyer—and Drummer—Who Felled Elon Musk's $55.8 Billion Compensation Package The Wall Street Journal
- Musk wants Tesla investors to vote on switching the carmaker's corporate registration to Texas The Associated Press
- Elon Musk says Tesla shareholders will vote ‘immediately’ on quitting Delaware for Texas CNN
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