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2025-01-13
By RANDALL CHASE, Associated Press DOVER, Del. (AP) — A Delaware judge has reaffirmed her ruling that Tesla must revoke Elon Musk’s multibillion-dollar pay package Chancellor Kathaleen St. Jude McCormick on Monday denied a request by attorneys for Musk and Tesla’s corporate directors to vacate her ruling earlier this year requiring the company to rescind the unprecedented pay package. McCormick also rejected an equally unprecedented and massive fee request by plaintiff attorneys , who argued that they were entitled to legal fees in the form of Tesla stock valued at more than $5 billion. The judge said the attorneys were entitled to a fee award of $345 million. The rulings came in a lawsuit filed by a Tesla stockholder who challenged Musk’s 2018 compensation package. McCormick concluded in January that Musk engineered the landmark pay package in sham negotiations with directors who were not independent. The compensation package initially carried a potential maximum value of about $56 billion, but that sum has fluctuated over the years based on Tesla’s stock price.499 swertres result

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READY FOR PRIME TIME?TEHRAN - The value of Iranian exports to the Developing-8 (D-8), a group of eight developing Islamic nations, increased by over 24 percent in the first eight months of the current Iranian calendar year (March 20-November 20) compared to the same period last year, according to the Islamic Republic of Iran Customs Administration (IRICA). During this period, Iran exported approximately 13.6 million tons of goods worth $6.317 billion to seven of the D-8 member countries. In terms of weight, exports grew by around 26 percent, IRIB reported. Turkey was the primary destination for Iranian exports, importing around 9.4 million tons of goods valued at over $4.4 billion. Pakistan and Indonesia followed as the second and third-largest importers, respectively. The D-8 group, established in 1997 by former Turkish Prime Minister Necmettin Erbakan, consists of Iran, Turkey, Pakistan, Bangladesh, Indonesia, Malaysia, Egypt, and Nigeria. The organization’s primary goals include fostering economic and trade cooperation, facilitating scientific collaboration, and promoting technology exchange among its members. Sheikh Attar, a former Deputy Minister of Foreign Affairs, noted that the trade capacity of the D-8 has now surpassed $68 billion. In recent developments, Iranian President Masoud Pezeshkian attended the 11th D-8 Summit held in Cairo, Egypt, marking the first visit by an Iranian president to Egypt in over a decade. During the summit, President Pezeshkian proposed the establishment of a D-8 development fund aimed at facilitating joint investments among member states. Additionally, Iran's Finance Minister Abdolnasser Hemmati met with the D-8 Secretary-General to discuss strategies for enhancing trade relations within the bloc, reiterating the target of achieving $500 billion in trade volume by 2030. These initiatives underscore Iran's commitment to strengthening economic ties within the D-8 framework, aiming to leverage collective potential for mutual growth and development. EF/MA


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