> Of course, Tesla shareholders voted for the plan, but the judge found that “the defendants were unable to prove that the stockholder vote was fully informed because the proxy statement inaccurately described key directors as independent and misleadingly omitted details about the process." [0]
I think the argument was that the vote wasn't valid because the the voters weren't properly informed and that Tesla didn't actually try to negotiate too hard to get a better deal for shareholders.
That being said, I have no idea about the law surrounding this stuff, just trying to add more context.
I think the argument was that the vote wasn't valid because the the voters weren't properly informed and that Tesla didn't actually try to negotiate too hard to get a better deal for shareholders.
That being said, I have no idea about the law surrounding this stuff, just trying to add more context.
[0]: https://electrek.co/2024/01/30/elon-musk-billion-tesla-ceo-c...