After a meeting with Indian Prime Minister Narendra Modi in Blair House, Illon Musk leaves after a meeting with Indian Prime Minister Narendra Modi in Blair House, in Washington, the United States, February 13, 2025.
Nathan Howard Reuters
A law firm that represents Tesla and Eileon Musk wrote a proposed legislation that would change the Dilayer Law, according to a person who is directly aware of Drafting the bill.
The proposed legislation, formulated by Richards, Lighton & in the original, or RLF, will adjust the Dilayer General Law, and if adopted, it can pave the way to restore the 2018 CEO of Tesla, with a value of tens of billions in options.
RLF confirmed their involvement in CNBC.
“The legal changes are necessary to restore the basic principles that were the distinctive feature of Dillauer for more than a century and ensuring that Delaware is still the prominent judicial jurisdiction of the foundation,” Lisa Schmidt, RLF president, said in a statement.
The draft law was submitted to the General Assembly in Delaweer on Monday and will require the approval of the two state rooms, as well as the governor of Matt Mayer, before it became a law.
The payment package granted Tesla granted to Musk in 2018 was the largest compensation plan for the CEO in the history of public companies, but it was requested that it be canceled last year by the Dilayer State Court.
In its ruling, Chancellor Cathaline McCromic wrote that the wage plan was developed inappropriately by the Tesla Council, which was controlled by Musk, and that it was approved by the shareholders who were misleading by the agent's materials in Tesla before they were asked to vote on them.
“Musk” may not be considered a “observer” in Tesla. Quinn said that the transactions that involve self -dealing with controllers or managers will undergo less review than they are now. These transactions range from merger deals, integration and acquisitions, compensation and executive decisions.
“The real role of the corporate law is the protection of minority investors,” Queen said. “With this law, the legislative body says,” You now know what? I protect them less. “
The proposed legislation will also determine the documents that the owners of minority can obtain “books and records” inspection requests, Queen said. Queen said that the stakeholders are limited to official elements such as a establishment certificate or minutes of stock shares meetings, but they will lose access to informal communication such as emails or other messages between members of the Board of Directors and executives.
After the ruling of the Chanseri Court last year, Musk started a campaign against the companies included in Dillauir and transferred the establishment site to its work Outside the state. He was aimed at his consultant McCorkk with frequent and exciting participation on his social network.
Other prominent executives, including Coinbase Brian Armstrong and Bill Akman of Birching Square, also expressed criticism of the judiciary in Delaware.
Rene Zetsif, partner at Boys Schilller, co -chair to the practice of disputes at Boies Schiller, co -chair for disputes at Boies Schiller, co -chair for disputes at Boies Schiller and co -chair to the company's securities and dispute conflicts on shareholders: “Dilayer has taken some heat that It is assumed that it is very difficult for console transactions. ”
She said: “It seems that these amendments are to correct a path that would make it noticeably easier for the panels and control units to avoid judicial scrutiny in their transactions.”
Tesla and Musk did not respond to the suspension requests.
He watches: George Gianarikas from Canaccord says that Tesla shares depend on new vehicles.
