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Judge approves settlement in suit that Tesla's board overpaid themselves

A judge has approved the settlement that finally wraps up a case brought against Tesla by the Police and Fire Retirement System of the City of Detroit. The shareholders argued that Tesla's board of directors overpaid themselves between 2017 and 2020.<br /> Chancellor Kathaleen McCormick of Delaware's Court of Chancery approved the settlement yesterday. Tesla's directors will be required to return roughly $277 million in cash and $459 million in stock options, as well as forgoing stock options for 2021-23 worth $184 million. McCormick also awarded $176 million in fees and costs to the trio of law firms that brought the case on a contingency basis.<br /> Some of the notable directors named in the suit include Chair Robyn Denholm, James Murdoch (son of Fox News owner Rupert Murdoch) and Larry Ellison (co-founder of Oracle). The board members did not admit to wrongdoing and the settlement does not specify how much each individual should return, only the collective amount.This article originally appeared on Engadget at https://www.engadget.com/transportation/judge-approves-settlement-in-suit-that-teslas-board-overpaid-themselves-185901600.html?src=rss

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Tesla reports its first-ever annual drop in deliveries

<p>Tesla has reported its first-ever <a data-i13n="cpos:1;pos:1" href="https://ir.tesla.com/press-release/tesla-fourth-quarter-2024-production-deliveries-and-deployments"& [...]

Match Score: 89.74

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The Morning After: FCC’s attempt to restore net neutrality didn't work

<p>The Sixth Circuit US Court of Appeals ruled yesterday that the FCC <a data-i13n="cpos:1;pos:1" href="https://www.engadget.com/computing/us-court-of-appeals-rules-against-eff [...]

Match Score: 82.37

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Tesla finally launches the refreshed 2025 Model Y in the Asia-Pacific region

<p>Tesla has quietly <a data-i13n="cpos:1;pos:1" href="https://www.tesla.com/en_au/modely">unveiled</a> its facelifted Model Y with new styling that will help it [...]

Match Score: 72.91

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Apple agrees to settle a 2019 Siri privacy lawsuit for $95 million

<p>Apple has moved to <a data-i13n="elm:context_link;elmt:doNotAffiliate;cpos:1;pos:1" class="no-affiliate-link" href="https://storage.courtlistener.com/recap/gov.usc [...]

Match Score: 53.00

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Elon Musk says Tesla will launch a robotaxi service in Austin this June

<p>Tesla will introduce a paid autonomous ride-hailing service in Austin, Elon Musk said during an <a data-i13n="cpos:1;pos:1" href="https://www.youtube.com/watch?v=Gub5qCTutZo [...]

Match Score: 50.48

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Meta adds UFC CEO and Trump booster Dana White to its board

<p>UFC CEO Dana White is joining Meta's board, the company <a data-i13n="elm:context_link;elmt:doNotAffiliate;cpos:1;pos:1" class="no-affiliate-link" href="https://in [...]

Match Score: 50.24

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Apple has agreed to pay $20 million to settle a class action lawsuit over Apple Watch battery swelling

<p>Owners of some early Apple Watch models may be eligible for payment from a $20 million class action settlement. Apple recently <a data-i13n="elm:context_link;elmt:doNotAffiliate;cpos: [...]

Match Score: 47.24

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Lucid's Gravity SUV gets native Tesla Supercharger access on January 31

<p><a data-i13n="cpos:1;pos:1" href="https://lucidmotors.com/">Lucid&#39;s</a> newly launched <a data-i13n="cpos:2;pos:1" href="https://www. [...]

Match Score: 44.87

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Uber files racketeering suit against New York groups alleging car crash fraud

<p>Uber has filed a racketeering suit against a group of legal firms and medical professionals, claiming they staged car crashes and performed unnecessary surgeries to commit insurance fraud, &l [...]

Match Score: 43.21