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...US buyout firm Clayton, Dubilier & Rice has hired former Tesco boss Sir Dave Lewis as an operating adviser as it seeks to bolster its consumer and retail team so it can explore new investments....
...“Insider sales by high-level execs of large amounts of stock are never a good sign, it’s quite simple,” said Elson from the University of Delaware....
...CD&R and BC Partners declined to comment....
...This group briefly considered an option to domicile Tesla outside the US, but then drew up a shortlist of 10 states, before whittling the options down to Texas and Delaware....
...Texas corporate law, it says, leans on Delaware doctrines and will not impede shareholder rights....
...Delaware has been accused in the past of being over-friendly to boards; it now faces a fresh judicial challenge. The US tradition of legal competition among states is distinctive....
...‘‘You’ve got a bunch of judges down in Wilmington who are threatening our future, who are depressing the standard of living for the US public.”...
...Amid New Orleans festivities, rainmakers wonder if the party is over for Delaware Delaware, Inc. may be the enterprise now under the most intense activist threat....
...A Delaware court recently struck down Elon Musk’s $56 billion Tesla pay package....
...The bigger picture is that Delaware chancery courts are there to make sure company boards and management are behaving appropriately....
...Hours after the ruling, which Tesla can still appeal against, Musk wrote on X: “Never incorporate your company in the state of Delaware.”...
...In its filing on Friday, Bernstein noted there had been two larger jury awards made in past US civil lawsuits — both of which were in Texas....
...Elon Musk has done another thing, which obliges us to do another thing....
...In the US, plaintiffs’ lawyers often take most or all of their fees from a portion of a settlement or judgment, a so-called contingency arrangement....
...Data group Circana said US toy sales were down 8 per cent year on year in the first nine months of 2023....
...In the last fiscal year, Apple spent twice as much buying back its own shares as it did on R&D....
...This is a pivotal event for US corporate governance, recalling the last time the court came close to such a momentous step....
...Elon Musk’s $55bn pay package from Tesla has been voided by a Delaware judge, who ruled that the unprecedented remuneration was improperly approved by the electric-car maker’s board of directors and had...
...They're a family-owned business from the Danish countryside beating big listed US companies. Parents like buying their kids a toy that keeps them away from screens....
...fines HSBC £57mn over deposit protection failings (FT) Silicon Valley investors build $300bn cash pile in start-up funding crunch (FT) Delivery Hero exits Deliveroo as takeaway demand wanes (FT) CD&R’...
...Tesla must fix the software of more than 2mn US vehicles, its third major safety update in the space of three months, coming at the end of a fraught week for the US electric-car maker....
...The Delaware court decided that Musk “controlled” Tesla even with just a 20 per cent stake in 2018....
...Both companies are owned by US buyout firm Clayton, Dubilier & Rice....
...Mattel, the toy company, said on Thursday that it had also found weaknesses in its internal controls over financial reporting, and that it would need more time to get its annual report out....
...These efforts have failed: Recent messages from Musk, who bought Twitter for $44bn in 2022 and rebranded it as X last year, include opinions on US immigration, handwriting and chickens....
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