"Drummer's Criticism and Musk's Move: Tesla's Texas Incorporation Vote"
TL;DR Summary
Elon Musk lost a $56 billion pay package in a legal battle with former heavy metal drummer Richard Tornetta, who sued Musk in 2018 for unfair treatment of Tesla shareholders. Despite holding just nine shares of Tesla, Tornetta's case led to the package being voided, saving the company billions. Tornetta's victory highlights the role of individual investors in corporate litigation and their importance in policing boardrooms, as larger investment firms often hesitate to take on such cases.
- Elon Musk bashed by heavy metal drummer who cost him $56 billion Yahoo News
- Musk seeks Tesla shareholder vote on moving incorporation to Texas Yahoo Finance
- The Lawyer—and Drummer—Who Felled Elon Musk's $55.8 Billion Compensation Package The Wall Street Journal
- Elon Musk says Tesla shareholders will vote ‘immediately’ on quitting Delaware for Texas CNN
- Musk wants Tesla investors to vote on switching the carmaker's corporate registration to Texas The Associated Press
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