Tesla urged Delaware's Chancery Court on Friday to reject a $5.6 billion stock-based fee request by counsel representing investors who blocked Elon Musk's record Tesla pay package, arguing the "unprecedented" fee bid is unreasonable, unwarranted and 17 times larger than any fee award in Delaware history.
Section 220 demands are a commonly used tool for stockholders to gain access to a company’s books and records. Although this provision of the Delaware General Corporation Law vests.
An activist investor's assertion that Meta Platforms Inc. should prioritize wider social impact over company profits when determining company policies is "antithetical" to principles of Delaware law, and his suit against the social media giant and its board should be dismissed, an attorney for Meta told Delaware Chancery Court on Wednesday.
Skechers' top executives allegedly cost the footwear giant millions by using company private jets to luxury tropical vacations in Fiji, Bora Bora and Hawaii.