![]() ![]() A copy of the parties’ stipulation of settlement in the case, filed with the court on July 14, 2023, can be found here.Īs detailed here, in June 2020, the Police and Fire Retirement System of Detroit filed a shareholder derivative lawsuit in the Delaware Court of Chancery against then-current and past members of Tesla’s board of directors. The settlement is subject to court approval. ![]() The agreement settles a Delaware Chancery Court lawsuit that a public pension fund shareholder filed against the board in June 2020 alleging that the since at least 2017 the board had received “unfair and excessive” compensation. In what is as far as I know the largest shareholder derivative lawsuit settlement ever as measured by dollar value, the defendant board members in the Tesla Board compensation derivative suit have agreed to settle the case for a combination of payments and transfers with a total value of $735 million. ![]()
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