Pakistan central bank likely to deliver sixth straight rate cut to revive economy- Reuters poll
BOJ Governor Ueda's comments at news conference
Harry Potter publisher Bloomsbury strikes supply agreement with Amazon
Top Russian security official says risk of armed clash between nuclear powers is growing, TASS reports
Column-US investment bias might ebb if European gloom lifts: Mike Dolan
China readies for Lunar New Year, amid worries about the economy
Nikola Jokic hits 66-foot heave to highlight his 5th straight triple-double
NEW YORK (AP) — A judge says Elon Musk must give up a compensation package awarded by Tesla’s board of directors that is potentially worth more than $55 billion.
The ruling in a Delaware court comes five years after a shareholder lawsuit targeted Tesla CEO Musk and the directors. They were accused of breaching their duties to the electric vehicle and solar panel manufacturer, resulting in a waste of corporate assets and unjust enrichment for Musk.
Plaintiff’s lawyers argued that the pay package was dictated by Musk and was the product of sham negotiations with directors who were not independent of him.
Defense attorneys said the pay plan was fairly negotiated by a committee of independent directors, contained lofty performance milestones, and was blessed by a shareholder vote that was not even required.
