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by AlchemistCamp 841 days ago
I don't think you do get it. The company has lost $75B in market cap since this activist ruling and will likely lose much more going forward, especially if the ruling is not overturned on appeal.

Not only that, but I think it's a real loss for the US in general and Deleware in particular as a good environment for business that respects property rights. Some guy with nine shares of stock overrode the wishes of over 3/4 of the shareholders and his lawyers may extract billions from the company which the market clearly sees as having been harmed by their actions.

1 comments

I doubt the $75B drop was BECAUSE of this ruling and if that's your assertion, it would need some evidence to back it up. Delaware has one of deepest bodies of case law for corporations and if Elon and the board acted inappropriately as they were found to have done, then it shouldn't matter if the case was started by a shareholder of 1 or a million shares.