[leetgirl83]

The guy that sued and just made Elon Musk lose 55 Billion dollars only had:

NINE SHARES OF TESLA STOCK.

[adolph]

Would it be any less if the person had eight or more if ten? Standing is standing. Maybe someone should have paid a troll toll before things got out of hand.

[spywaregorilla]

It may have felt less if they had 10,000

[clouddrover]

What argument are you trying to make? That big guys should steamroll little guys? That might makes right?

That's a grim worldview.

[leetgirl83]

Elon had 400 million shares vs this guy's 9 shares (worth $153 in 2018). Can't you see how ridiculous this is?

[clouddrover]

So you do think might makes right. That's sad.

[kortilla]

It’s not sad, voting by ownership stake is how nearly all companies are controlled.

This shareholder should completely have had his view steamrolled from a “what he thinks the company should do” perspective. However, he is definitely entitled to file a lawsuit if he thinks there was governance fraud.

[clouddrover]

And he did have his court case and for now he's won it (I'm sure it will be appealed). It seems like the legal system is working as intended in this instance.

So what are we even talking about?

[kortilla]

Claiming that we think it’s sad that the 9 share holder has as much say as a million share holder is stupid.

This has nothing to do with him having a say in how the company is run.

[tim333]

I think it's more that a company should be controlled by the majority of its owners rather than a rando with 0.000001%

[clouddrover]

What's controlling the company here is the law. Do you think Tesla or Musk are above the rule of law?

[tim333]

No but the law can be imperfect.

[mise_en_place]

Really strange that the court gave standing to this case. I guess I’d better start suing Joe Biden in court. He is ineligible to be on my state’s ballot. As an American citizen, I am aggrieved because he has violated his oath of office by refusing to defend the US border. /s

(Before I am tarred and feathered this is purely satire. But equivalent to the legal argument being discussed here)

[esoterica]

Why are you commenting on a legal issue if your knowledge of the law is so minimal that you don’t even know what the word “standing” means? Of course shareholders have standing to sue on corporate governance issues, even if their case has no merit.

[rtsil]

If you really believe that you claims are legitimate, you should sue. And if the courts find that you are right, then they will remove him from the ballot. That's how it's supposed to work.

[mise_en_place]

It doesn't matter what I believe, the court should have a higher standard when determining legal standing for cases like this. Otherwise it reduces overall faith in the US court system and undermines the rule of law.

[ahahahahah]

Companies must respect the rights of all owners. Those companies are entirely free to limit ownership to only those who are willing to invest the equivalent of 10000 Tesla shares if they want (Berkshire Hathaway, for example, does this). Tesla knew they couldn't be a meme stock if they did that, though.

[rtsil]

> the court should have a higher standard when determining legal standing for cases like this.

No, the court should have the same, identical standard for all cases. Equal access to the legal system and predictability are tenets of the rules of law.