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Business Organizations Keyed to Sjostrom
In re Tesla Motors, Inc. Stockholder Litigation
Citation:2018 WL 1560293 (Del. Ch. 2018)
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- The Brief Prologue provides necessary case brief introductory information and includes:
- Topic: Identifies the topic of law and where this case fits within your course outline.
- Parties: Identifies the cast of characters involved in the case.
- Procedural Posture & History: Shares the case history with how lower courts have ruled on the matter.
- Case Key Terms, Acts, Doctrines, etc.: A case specific Legal Term Dictionary.
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- Brief Facts: A Synopsis of the Facts of the case.
- Rule of Law: Identifies the Legal Principle the Court used in deciding the case.
- Facts: What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case. Review the Facts of this case here:
Defendant Musk is Tesla’s largest stockholder. At the time of the acquisition, Musk owned approximately 22.1% of Tesla’s common stock. He serves as chairman of the Tesla board, CEO and Chief Product Architect. Musk plays a key role in the design of all Tesla products. He also contributes significantly and actively to Tesla by recruiting executives and engineers. In its SEC filings, Tesla states that it is highly dependent on the services of Elon Musk, and acknowledges that if it were to lose Musk’s services, the loss would disrupt Tesla’s operations, delay the development and introduction of its vehicles and services. Musk also served as the chairman of the SolarCity board since its formation in 2006. He was SolarCity’s largest stockholder, holding approximately 21.9% of the common stock prior to the acquisition. As a result of the acquisition, Musk’s SolarCity holdings were converted to over $500 million of Tesla shares.
- Issue(s): Lists the Questions of Law that are raised by the Facts of the case.
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- Reasoning and Analysis: Identifies the chain of argument(s) which led the judges to rule as they did.
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- Policy: Identifies the Policy if any that has been established by the case.
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