Tesla Announced Certain Current And Former Tesla Board Members, Who Were Defendants In A Stockholder Derivative Action Titled The Police And Fire Retirement System Of The City Of Detroit V. Elon Musk, Et Al., As Reported In Our Securities Filings, Entered Into A Stipulation & Agreement Of Compromise And Settlement On July 14, 2023, To Resolve The Action
Portfolio Pulse from Charles Gross
Tesla and certain current and former board members have entered into a settlement agreement to resolve a stockholder derivative action titled The Police and Fire Retirement System of the City of Detroit v. Elon Musk, et al. The Delaware Court of Chancery approved the scheduling order on July 19, 2023.
July 20, 2023 | 9:25 pm
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Tesla has settled a legal dispute with certain current and former board members, which may reduce legal uncertainties and potential financial liabilities.
The settlement of the legal dispute reduces uncertainties and potential financial liabilities for Tesla, which could have a positive impact on the company's stock price in the short term. However, the long-term impact will depend on the details of the settlement and the company's future legal and financial performance.
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