A Tesla investor has taken legal action against the company for alleged anti-capitalist practices, excessive attorney fees, and CEO compensation package, with potential impact on fee reduction and shareholder support
Questions to inspire discussion
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What legal action has a Tesla investor taken against the company?
—The Tesla investor has taken legal action against the company for alleged anti-capitalist practices, excessive attorney fees, and CEO compensation package.
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What support has the Tesla investor received in the legal case?
—The Tesla investor has received support from other shareholders and has retained high caliber legal counsel to challenge the fee request in a lawsuit.
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What potential impact does the legal action have on Tesla and its shareholders?
—The potential impact of the legal action includes a reduction in attorney fees and a win-win situation for Tesla and its shareholders.
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What is the significance of the shareholder vote and robo taxi event?
—The shareholder vote and robo taxi event are significant events that coincide with the legal battle and the Tesla investor's motion.
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What is the background of the Tesla investor taking legal action?
—The Tesla investor, Amy Stefan, is a former airline pilot with a finance background and is being supported by Tesla retail shareholders in the legal case.
Key Insights
- 💼 Shareholder representation in court is a game-changer, with a powerhouse legal counsel now involved.
- 💼 The top lawyer offered to represent them on contingency, meaning they won't get paid unless they achieve a certain result, which is linked to reducing the fees of the plaintiff's attorney.
- 🏛️ The legal team chosen for the case is highly reputable and experienced, giving the case the best shot at success.
- 💼 The shareholder base expresses confidence in Elon, despite potential opposition from institutions regarding the compensation package.
- 📉 Tesla's growth has slowed, so Elon Musk may not deserve the compensation package that was contrived six years ago.
- 🗳️ Currently, Tesla has a much stronger retail base with 52.5% of the voting casted votes being institutional, making the situation different from 2018.
- 📈 Shareholders are collectively trying to act for the benefit of everyone, exerting influence by getting together for the collective benefit of all shareholders.
- 🚗 It's crucial for Tesla to reach a point of being fully "feature complete" in their releases to reduce potential instability and convergence towards stability.
#Tesla #Elon #Compensation #VotedTesla24
XMentions: @herbertong @TeslaBoomerMama @TheJeffLutz @Rahraw999 @R6Alex @HabitatsDigital
Clips
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00:00 🚨 Tesla investor Amy Stefan files motion to represent shareholders in legal battle, supported by legal counsel and retail shareholders, with potential impact on fee reduction and shareholder support page.
- Tesla investor Amy Stefan filed a motion to be included in a legal battle representing shareholders, with a big shareholder vote and robo taxi event coming up.
- Tesla investor has retained legal counsel to challenge fee request in a lawsuit, representing shareholders in court for the first time.
- A shareholder initiated a survey and sent a package to the board requesting reinstatement of a compensation package and a move out of Delaware, as well as letters to the court, resulting in 1,388 verified shareholder letters and 189 verified shareholder emails.
- Amy's legal team has decided to take action against Tesla after information became public, and Amy is being advised to stay quiet by her lawyers.
- Tesla's top lawyer reached out to another top lawyer to represent them on contingency in a case regarding the plaintiff's attorney's remuneration, with the potential outcome being a reduction in fees and a win-win situation for Tesla and its shareholders.
- Amy, a former airline pilot with a finance background, is being supported by Tesla retail shareholders in a legal case, and a support page will be set up for shareholders to sign up in support.
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09:43 🚨 Tesla investor hires top legal counsel to take action against the company for alleged anti-capitalist practices, with the judge emphasizing the need for real benefit to shareholders in the case.
- Amy has hired high caliber legal counsel from the firm Munger Tolson Olssen, including Joseph Grun Fest, a professor at Stanford Law School, to work on her legal strategy.
- A highly reputable lawyer with extensive experience in securities fraud litigation and a team of skilled associates has been chosen to handle a legal case, ensuring a well-prepared and polished presentation.
- A law firm is taking legal action against Tesla, claiming that the company's practices are anti-capitalist and anti-American, and could result in continuous lawsuits and significant financial impact.
- The plaintiff's attorneys are only interested in getting a big payout, with little benefit to shareholders, and the judge has stated that they will only receive fees if they provide a real benefit to shareholders.
- The judge did not grant the plaintiff's motion for attorney's fees in a lawsuit against Tesla, and is relying on the integrity of Tesla's attorneys to contest the proceedings.
- The speaker discusses a woman's confrontational language in a legal dispute.
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20:39 🚨 Tesla investor files legal brief arguing for evaluation of attorney's fees in Tesla case, potential impact on reputation and legal precedent for Elon Musk's compensation package.
- Amy filed a brief regarding the method of calculation of attorney's fees in the Tesla case, arguing that the benefit conferred should be evaluated using option valuation and discounted accordingly.
- The load star method is used in California to calculate compensation based on hours worked and the hourly rate, with adjustments made based on difficulty and historical multipliers.
- Elon Musk may have a legal remedy against Tesla for the reasonable value of his services, which could amount to 22 to 40 million dollars, and Tesla is awaiting a response before deciding on an appeal.
- Tesla investor discusses the legal implications of contesting a ruling against the board and the potential impact on Tesla's reputation.
- The speaker discusses the impact of the lawsuit on Tesla and its CEO, expressing disbelief at the potential damage to the company and the US's reputation for business.
- Elon Musk's compensation package could potentially set a legal precedent for others, and the speaker has concerns about the judges involved in the case.
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31:28 🚨 Tesla investor makes shocking legal move as potential legal challenges arise regarding Tesla's pay package and jurisdiction disputes between Delaware and Texas, with the compensation package expected to pass with a 60-65% approval.
- A client operating a cellular business in LA was set up by a competitor and offered a bribe by a cop, leading the speaker to believe it was not the first time such an offer had been made.
- The judge in Elon Musk's case has a negative history with him, and there was likely a conversation about whether to request a different judge.
- The judge took on Elon's case while ruling against his wishes, and there may be a lawsuit filed for compensation.
- Potential legal challenges may arise regarding Tesla's pay package, with the possibility of jurisdiction disputes between Delaware and Texas.
- The plaintiff's attorney quickly filed motions to ensure that the case stays in Delaware, but the speaker is hopeful that the move to Texas will calm things down.
- The compensation package for Tesla is expected to pass with a 60-65% approval, based on casted votes excluding Elon and Kimble.
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39:12 🚗 Tesla investor legal move in Texas faces challenges, but with shareholder confidence and support, Elon Musk and Tesla are expected to prevail with 69% of the vote, while also addressing retail investors and the release of Tesla Kila.
- The speaker discusses the difficulty of obtaining the necessary votes in Texas for a Tesla investor legal move.
- Tesla and Elon will prevail with 69% of the vote, and the Texas situation will be a bit uphill but they need to keep going until they get it through.
- Shareholders express confidence in Elon Musk and Tesla's move from Delaware to Texas is seen as a symbol of capitalist America.
- BlackRock and Citadel are planning to open a stock exchange in Texas, and Robin Denol is now focusing on addressing retail investors.
- The speaker discusses the legal challenges facing Tesla and the importance of maximizing shareholder votes, while also mentioning the release of Tesla Kila on the Tesla shop.
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45:13 🚨 Tesla investor takes legal action against excessive attorney fees and CEO compensation package, with negative comments about Elon Musk's compensation vote leading to speculation of bad blood between the two.
- Tesla has reserved $2.3 billion for a compensation package that was deemed excessively large and unfair to shareholders, despite the judge noting that it was structured to help Musk achieve the goal of making a good future for humanity.
- Tesla investor is taking legal action against the company's excessive attorney fees and CEO compensation package, with support from other shareholders.
- Tesla investor and former board member Steve Wesley is making incredibly negative comments about Elon Musk's compensation vote, leading to speculation of bad blood between the two.
- Tesla's growth has slowed, and the CEO's compensation package doesn't make sense given the company's performance compared to other CEOs.
- Ross comments on Silicon procurement and the importance of seeking out people with expertise, while also mentioning the influence of people with positions and megaphones.
- Investor with 800 shares in his fund has no influence on his clients to sell Tesla and has no voting rights for their shares.
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51:52 🚨 Retail investors need to take control and vote to address issues of unfair treatment and voting rights in Tesla, as institutions may have ulterior motives and there is bizarre behavior surrounding the issue.
- The speaker believes that investors' negative reactions are often a reflection of their financial activity and short-term losses.
- Disclosure of current positions should be required for anyone speaking on CNBC, as institutions voting against Tesla may have ulterior motives and there is bizarre behavior surrounding the issue.
- In 2018, Tesla was heavily shorted, but now there is a stronger retail base and less institutional opposition.
- Elon Musk has accomplished what many thought was impossible, and retail shareholders need to step up and vote to take control of the situation.
- Investors are collectively taking legal action in securities cases to benefit all shareholders, particularly in California, to address issues such as voting rights and mechanical issues that disadvantage retail traders.
- Many people submitted letters that influenced the case and made it part of the public record, leading to a positive step towards fair treatment for retail investors.
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59:52 🚗 Shareholders claim no harm from compensation package, potential shift in legal case; Elon Musk's tweet shows confidence in Tesla's direction and autonomous driving technology improvements.
- Shareholders are claiming they were not harmed by a compensation package and are suggesting that the CEO may be realizing the damage she is causing, potentially leading to a shift in the case.
- The speaker discusses the potential outcome of a legal case involving Tesla and the resistance the judge may face in making a decision on attorney fees.
- Elon Musk's tweet about the release of Tesla's new software update shows confidence in the direction of the company and the potential for significant improvements in autonomous driving technology.
- Tesla is working on testing and releasing new features for their vehicles, aiming to reach a stable and complete version while minimizing potential bugs and instability.
- The speaker discusses the impact of a tweet on their busy schedule and experience with interviews.
- The speaker expresses gratitude and discusses the importance of compensating Elon Musk for his work and motivating him for the next decade.
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Duration: 1:13:27
Publication Date: 2024-06-07T15:02:45Z
WatchUrl:https://www.youtube.com/watch?v=w3UxLD8G_wE
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