"Tornetta🏆 benefits .. the same way other Tesla #shareholders benefit: saving the co billions tt a subservient BODs paid to #Musk .. Experts said people like #Tornetta r vital for #policing #boardrooms. Lawmakers & judges hv long wanted large invt firms to lead such corp litigation since they r better equipped to keep an eye on their lawyers' tactics. But experts said fund mgrs don't want to jeopardise relat'nships on #WallStreet. So it was up to Tornetta to take on Musk"
https://www.bangkokpost.com/business/general/2736350/musk-loses-56bn-case-to-heavy-metal-drummer

Richard Tornetta, the thrash metal drummer - looking out for the little guy.

Makes you wonder why more shareholder's don't challenge the exorbitant packages that CEO's seemingly think they are entitled too.

Perhaps, after this ruling - they will.

https://www.loudersound.com/news/thrash-metal-drummer-costs-elon-musk-56-billion-dollars

#musk #Tesla #Tornetta

"His name is now etched in the annals of corporate law." A thrash metal drummer just cost Elon Musk $56 billion

Pennsylvania metal musician Richard Tornetta has just handed the billionaire CEO of Tesla and X one of the costliest legal defeats in history

Louder

OMG THIS LETTER from the Chancellor in the #Tornetta case.

I have edited the replies to add the alt text since the text does not fit in the alt text box.

If you are elon musk, this letter and yesterday's hearing are not good news, in any way. nothing is fcked, per se, as the dude might say, if he were a lawyer, but this is not going in the right direction if you are him.

@whetstone Good question. The bottom line is that we aren't even going to get a briefing schedule from the parties for probably another couple of weeks, it will stretch out for probably a couple of months, we might even have another oral argument, and then she will have at minimum ninety days, barring any additional similar sequence....

#Tornetta #Musk #Law #LawFedi #DelawareCourts #CourtOfChancery

LOL on Musk being a part-time CEO

Varallo: "Indeed, while Mr. Musk came to trial saying that that he anticipated his full time activity at Twitter to end and I'm quoting 'probably this week and next week' [trial was November 14-18, 2022], he was quoted in the financial press last week on February 15, as saying that he anticipated being able to appoint a new Twitter CEO by the end of 2023."

27/

#Law #Musk #Tornetta

In case anyone is looking for the dial-in details, here they are again:

(774) 267-7689

#Tornetta #CourtofChancery #DelawareCourts #Law #lawfedi

We have done microphone testing, and we should be getting underway shortly. The teams were at the Courthouse yesterday setting up their presentation equipment, so we know we will have slide presentations that we cannot see. ::sad trombone::

6/

One thing I don't know about fediverse threading is if there's any way to fck it up like you can on Twitter, whether there is a kind of non-threading reply or not...

but there's only one way to find out, the same way I did on Twitter, by trial and error.

So, here is post numero dos, with the background information on the #Tornetta case.

Let's see how the threading goes. 🤞🏻

2/

https://thechancerydaily.substack.com/p/tornetta-musk-and-55-billion-in-options

Tornetta, Musk, and $55 Billion in Tesla Options

Tuesday brings post-trial argument in the Delaware Court of Chancery, but what does that even mean?

The Chancery Daily

This will be the thread for live-tooting of the Tornetta v. Musk post-trial argument on Tuesday, February 21st at 1:30pm Eastern.

Live-tooting has been a difficult and very meh experience in the past, so I'm trying some things to make it better, including making this anchor post now, and also using the hashtag #Tornetta — which I trust is not a frequently-used hashtag unless there is definitely something I do not know anything about, which I also suppose is def possible. 🫠

#LawFedi #Law

1/