[az226]

It’s quite an odd ruling given that OpenAI completed its for profit “conversion” last fall.

It seems the biggest value loss to the nonprofit was in this conversion, not in the initial for profit subsidiary creation giving investors capped profit shares.

[metalliqaz]

But this "conversion" was apparently not the focus of the suit, according to OP. Perhaps it occurred after they initiated legal proceedings?

[granzymes]

Correct, Musk based his claims on the 2023 Microsoft deal.

The 2025 recapitalization was discussed at trial, but it was ancillary since all that changed was the existing for-profit changed from a capped-profit with weird cash flow mechanics to a traditional public benefit corp with ordinary equity.