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A Delaware judge has reaffirmed her ruling that must revoke ’s multibillion-dollar pay package. Chancellor Kathaleen St. Jude McCormick on Monday denied a request by attorneys for Musk and Tesla’s corporate directors to vacate her ruling earlier this year requiring the company to rescind the unprecedented pay package. McCormick also rejected an equally unprecedented and massive fee request by plaintiff attorneys, who argued that they were entitled to legal fees in the form of Tesla stock valued at more than $5 billion. The judge said the attorneys were entitled to a fee award of $345 million. The rulings came in a lawsuit filed by a Tesla stockholder who challenged Musk’s 2018 compensation package. McCormick concluded in January that Musk engineered the landmark pay package in sham negotiations with directors who were not independent. The compensation package initially carried a potential maximum value of about $56 billion, but that sum has fluctuated over the years based on Tesla’s stock price. Following the court ruling, Tesla shareholders met in June and ratified Musk’s 2018 pay package for a second time, again by an overwhelming margin. Defense attorneys then argued that the second vote makes clear that Tesla shareholders, with full knowledge of the flaws in the 2018 process that McCormick pointed out, were adamant that Musk is entitled to the pay package. They asked the judge to vacate her order directing Tesla to rescind the pay package. McCormick, who seemed skeptical of the defense arguments during an August hearing, said in Monday’s ruling that those arguments were fatally flawed. “The large and talented group of defense firms got creative with the ratification argument, but their unprecedented theories go against multiple strains of settled law,” McCormick wrote in a 103-page opinion. The judge noted, among other things, that a stockholder vote standing alone cannot ratify a conflicted-controller transaction. “Even if a stockholder vote could have a ratifying effect, it could not do so here due to multiple, material misstatements in the proxy statement,” she added. Meanwhile, McCormick found that the $5.6 billion fee request by the shareholder’s attorneys, which at one time approached $7 billion based on Tesla’s trading price, went too far. “In a case about excessive compensation, that was a bold ask,” McCormick wrote. Attorneys for the Tesla shareholder argue that their work resulted in the “massive” benefit of returning shares to Tesla that otherwise would have gone to Musk and diluted the stock held by other Tesla investors. They value that benefit at $51.4 billion, using the difference between the stock price at the time of McCormick’s January ruling and the strike price of some 304 million stock options granted to Musk. While finding that the methodology used to calculate the fee request was sound, the judge noted that the Delaware’s Supreme Court has noted that fee award guidelines “must yield to the greater policy concern of preventing windfalls to counsel.” “The fee award here must yield in this way, because $5.6 billion is a windfall no matter the methodology used to justify it,” McCormick wrote. A fee award of $345 million, she said, was “an appropriate sum to reward a total victory.” The fee award amounts to almost exactly half the current record $688 million in legal fees awarded in 2008 in litigation stemming from the collapse of Enron. THR Newsletters Sign up for THR news straight to your inbox every day More from The Hollywood Reporter9s app casino real money download 。

Famed conservationist and primatologist Jane Goodall, who turned 90 this year, is getting the biopic treatment at Appian Way and Disney. Speaking with , Goodall says she’s already given notes on an early draft of a script and will produce the film alongside Jennifer Davisson and Michael Hampton. No word as yet regarding who will play Goodall in the project The project is being penned by New Zealand author and screenwriter Eleanor Catton who won the Booker Prize for “The Luminaries” in 2013. Catton also penned the 2020 film adaptation of Jane Austen’s “Emma” starring Anya Taylor-Joy, Bill Nighy and Josh O’Connor. Goodall previously worked with Disney through their Disneynature label. A deal was then done between Disney, Appian and Goodall for her life rights. She’s considered the world’s foremost expert on chimpanzees, spending sixty years studying the social and family interactions of the creatures. She’s a United Nations Messenger of Peace and honorary member of the World Future Council. Goodall and Appian Way are also teaming up on the live-action film “How” about an abandoned dog and a wolf’s survival journey during a harsh Canadian winter. That film is in pre-production.Sterlite Power unit raises ₹725 crore

, /PRNewswire/ -- The Bank of America Chicago Marathon will notify runners today of their selection status for the 2025 event. The race, which is the final event in the Bank of America Chicago Distance Series, continues to see unprecedented interest with more than 160,000 individuals applying for a chance to participate. Those who secure an entry into the race will join another record-breaking field with more than 53,000 participants expected to cross the finish line in on . Today's selection shows growing interest and participation in the Shamrock Shuffle Run, 13.1 and Chicago Marathon, which together form the Bank of America Chicago Distance Series. In 2024, the events welcomed more than 81,000 finishers, with 2,700 completing all three Series events. As enthusiasm in the events builds, event organizers are excited to unveil a new look and feel for the third rendition of the Series. The new logos connect each event and celebrate the unique attributes that the local and global running communities associate with the popular road races. "Today we welcome a new field of participants to the Bank of America Chicago Marathon and launch the next chapter of the Bank of America Chicago Distance Series," said Executive Race Director . "When we started the Series in 2023, our goal was to celebrate the running community, from individuals discovering the sport for the first time to our longtime participants. We continue to be humbled by the running community's enthusiasm and embrace of the events and we're excited to launch a new look that celebrates , the spirit of each race and the achievement made possible through the dedication of thousands of runners." Individuals interested in participating in the 2025 Bank of America Chicago Distance Series are encouraged to register early, as all races are expected to sell out in 2025. Continue reading for more information about the events that make up the Chicago Distance Series. The Bank of America Chicago Marathon will take place on . Runners who receive an entry through today's drawing will join those who guaranteed their entry into the race during the four-week application window. Guaranteed entries include Bank of America Chicago Marathon legacy finishers, time qualifiers, international tour group participants, charity runners, 2024 Bank of America Chicago Distance Series finishers and those who cancelled their 2024 race entries. Runners who did not receive an entry through the drawing can still sign up through the Bank of America Chicago Marathon Charity Program. Since 2002, the Charity Program has generated more than for local, national and global causes. The 2025 Charity Program includes 217 nonprofit organizations raising funds related to 10 cause categories: Advocacy, Animal Rights and Welfare, Education, Environment, First Responder and Military, Healthcare, Research, Social Service, Sports and Youth Development. Individuals who register to run with an official charity at this time are required to raise a minimum of . For a list of official charities and information on how to register by joining a charity team, go to . For the latest event updates, registered participants and community members are encouraged to visit the which is available at . The Bank of America Chicago 13.1 will take place on . The fourth annual half marathon is set to welcome more than 9,000 finishers on a course that weaves through the historic parks and boulevards of the West Side, starting and finishing in Garfield Park. Following the race, participants and community members are encouraged to celebrate at the Race Day Festival, featuring a mix of entertainment, health and wellness activities and community activations including the West Wellness Walk, a 1.31-mile walk on . Additional details about the 2025 event and registration information are available at . The Bank of America Shamrock Shuffle will take place on . This beloved tradition in its 44 year is regarded as the official kickoff to the running season and a continuation of the city's St. Patrick's Day celebrations. The race is set to welcome more than 24,000 participants to a one-of-a-kind Run (4.97 miles) through Loop. Fitness enthusiasts looking for shorter distance events are encouraged to join The Mile event on , or the 2-Mile Walk on Sunday. All three events will start and finish in . Additional details about the 2025 event and registration information are available at . For more Bank of America news, including dividend announcements and other important information, visit the and . Phone: 1.312.992.6618 , Bank of America, Phone: 1.312.992.2370 View original content to download multimedia: SOURCE Bank of America Corporation

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