Andrews & Springer LLC filed a class action and derivative complaint on behalf of public stockholders of Tesla, Inc. (“Tesla” or the "Company") and derivatively on behalf of nominal defendant Tesla in the Delaware Court of Chancery, Case No. 2018-0408-JRS.
The complaint challenges the unprecedented compensation package to Tesla's CEO, Chairman and controlling stockholder Elon Musk. The complaint alleges that, among other things, Tesla's board of directors breached thier fiduciary duties by approving Elon Musk's new compensation package, the value of which could balloon up to $55 billion if certain milestones are achieved.
Please click here for a copy of the Complaint that was filed on June 7, 2018.