Tesla board to return $735 million in stock awards to end lawsuit::Tesla Inc. directors, including co-founder Elon Musk, agreed to return more than $735 million in stock awards to settle an investor lawsuit.
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The case is the Police and Fire Retirement System of Detroit v. Musk, 2020-0477, Delaware Chancery Court (Wilmington).
Do retirements funds invests in stocks ? Didnt they learned from 2007 ?
Two points:
- It’s the fiscally responsible thing for these pension funds to do. They have diversified investments, including S&P500 stocks. I hope the police and firefighter pension realized all those TSLA gains.
- Institutional investors have POWER, and we don’t want all institutional investors to be investment banks. Why isn’t it good news that a union pension fund is holding a greedy board accountable for outsized executive pay? These guys saw a material impact in their investments at TSLA due to board BS and sued the board.
