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Market Chatter: Tesla Denies Scholar's Claim of Bullying by CEO Elon Musk,
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Market Chatter: Tesla Denies Scholar's Claim of Bullying by CEO Elon Musk,
May 15, 2024 7:36 AM

10:00 AM EDT, 05/15/2024 (MT Newswires) -- Tesla (TSLA) denied that Chief Executive Elon Musk attempted to bully or threaten a retired law professor from speaking out against a plan to let shareholders validate his proposed $56 billion pay package that was struck down by a judge, Bloomberg reported Wednesday.

The company filed a letter with Delaware's Chancery Court stating it opposes the request by Charles Elson, a retired University of Delaware law professor, to file a legal brief regarding the planned investor vote because it "has nothing at all to do with any question or topic before this court," the letter said, according to Bloomberg.

The submission came a day after Elson stated in a court filing that Musk attempted to block his friend-of-the-court brief by threatening to fire Holland & Knight LLP as its law firm representing it on an unrelated matter. The law firm has a 30-year consulting relationship with Elson, Bloomberg reported.

"Tesla categorically rejects the amicus motion's suggestion that it is 'appalling' or 'bullying' to raise a potential conflict with outside counsel," the company said, according to Bloomberg.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 173.84, Change: -3.71, Percent Change: -2.09

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