"Musk told jurors Wednesday that his lawyers warned him that he was unlikely to defeat Twitter's suit because McCormick was extremely biased against me. She issued several pretrial rulings that favored the company. The lawyers said there was no choice but to give in, he added."
"In a separate case, McCormick twice voided Musk's Tesla Inc. pay package which had set a record for executive compensation in the US when he agreed to it in 2018 but the Delaware Supreme Court reinstated it in December. McCormick's ruling against Musk prompted him to move Tesla from Delaware corporate home to more than 60% of Fortune 500 companies to Texas."
Elon Musk testified at a San Francisco trial that he decided to complete his $44 billion acquisition of Twitter because he believed Delaware Chancery Court Chief Judge Kathaleen St. J. McCormick was biased against him. His lawyers warned him that McCormick's pretrial rulings favored Twitter and that he was unlikely to win the lawsuit, leaving no choice but to proceed with the purchase. The trial involves claims from Twitter investors that Musk defrauded them by manipulating the platform's share price. Musk downplayed the market influence of his critical tweets about the company. The judge subsequently instructed jurors to disregard Musk's testimony about his lawyers' advice due to attorney-client privilege rules.
Read at www.mercurynews.com
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