Stay updated with breaking news from Excessive Compensation. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The Biden administration is proposing tighter regulations to cut down on “anti-competitive” practices in the Medicare Advantage (MA) market including strengthening the rules that limit how much compensation agents and brokers can receive for enrolling Medicare beneficiaries into MA plans. The Centers for Medicare & Medicaid Services (CMS) said in a statement that the proposed…
Tesla Inc will urge a Delaware judge on Friday to reject $230 million in legal fees requested by a team of shareholder attorneys who won a settlement in a dispute over director pay. The maker of electric vehicles called the fee request an "unwarranted windfall" that works out to an hourly rate of $10,690, one of the highest fee requests ever in Delaware's Court of Chancery, a key venue for shareholder lawsuits. The company wants Kathaleen McCormick, chief judge on the court, to approve a fee of no more than $64 million.
Elon Musk, Larry Ellison and other current and former members of Tesla's board of directors will return $735 million to settle claims that they massively overpaid themselves.
WILMINGTON, Delaware (Reuters) -Tesla Inc's directors will return $735 million to the company to settle claims they grossly overpaid themselves in one of the largest shareholder settlements of its kind, according to a Monday filing in a Delaware court. The settlement resolves a 2020 lawsuit by a retirement fund which holds Tesla stock and challenged stock options that were granted to Tesla directors starting in June 2017. The settlement does not impact the $56 billion compensation package of Elon Musk, which is being challenged by shareholders in a separate lawsuit that went to trial la...
WILMINGTON, Delaware (Reuters) -Tesla Inc's directors will return $735 million to the company to settle claims they grossly overpaid themselves in one of the largest shareholder settlements of its kind, according to a Monday filing in a Delaware court. The settlement resolves a 2020 lawsuit by a retirement fund which holds Tesla stock and challenged stock options that were granted to Tesla directors starting in June 2017. The settlement does not impact the $56 billion compensation package of Elon Musk, which is being challenged by shareholders in a separate lawsuit that went to trial la...