International
Musk to testify at trial over his $50 bn Tesla compensation
| By AFP | Juliette Michel |
Tesla tycoon Elon Musk will take the stand on Wednesday as part of a trial over his $50 billion pay package as CEO of the electric car giant.
Musk will testify in the same Delaware court where he faced a lawsuit by Twitter to make sure he went through with his buyout of the social platform.
The $44 billion purchase of Twitter has put Musk under a deluge of scrutiny after he conducted massive layoffs, scared advertisers and opened the platform to fake accounts.
The unrelated Tesla case is based on a complaint by shareholder Richard Tornetta, who accused Musk and the company’s board of directors of failing in their duties when they authorized the pay plan.
Tornetta alleges that Musk dictated his terms to directors who were not sufficiently independent from their star CEO to object to a package worth around $51 billion at recent share prices.
The Tesla shareholder accuses Musk of “unjustified enrichment” and asked for the annulment of a pay program that helped make the entrepreneur the richest man in the world.
According to a legal filing, Musk earned the equivalent of $52.4 billion in Tesla stock options over four and a half years after virtually all of the company’s targets were met.
When the plan was adopted it was valued at a total of $56 billion.
The non-jury trial began Monday with testimony from Ira Ehrenpreis, head of the compensation committee on Tesla’s board of directors, who said the targets set were “extraordinarily ambitious and difficult”.
Ehrenpreis argued that the board wanted to spur Musk to focus on Tesla at a time when the company was still struggling to gain traction.
‘Highly unusual’
The trial will run through Friday and is being presided over by Judge Kathaleen McCormick, the same judge who was to preside over the Twitter case.
There is no deadline for her decision which could take months.
It’s “highly unusual” for this kind of case to be brought to trial, Jill Fisch, Law professor at the University of Pennsylvania, told AFP.
“There aren’t all that many successful challenges to executive compensation (as) the courts have typically treated this as a business decision,” she added.
But the court found in this case that Musk’s ownership of about 22 percent of Tesla and his role as CEO “could have an undue impact” on the board and other shareholders, she noted.
Musk canceled an in-person appearance on Sunday at an event on the sidelines of the G20 in Bali to be in court.
Asked why he had not traveled to the tropical Indonesian island, the new Twitter boss joked that his “workload has recently increased quite a lot” after his takeover of the social media giant.
International
Authorities Say Teotihuacán Gunman Was Obsessed With Mass Shootings and Extremist Symbolism
Julio César Jasso Ramírez, identified by authorities as the gunman behind the armed attack at the archaeological site of Teotihuacán, had allegedly spent years building a personal narrative shaped by an obsession with historical mass shootings, extremist symbolism, and an increasing detachment from reality.
According to preliminary findings from the Fiscalía General de Justicia del Estado de México, the 27-year-old suspect, originally from the southern Mexican state of Oaxaca, acted alone and appeared to have carefully planned the attack.
Investigators also pointed to signs of a severe psychological or psychiatric disorder. One official involved in the case stated that the suspect seemed to live in “his own reality,” disconnected from the world around him.
“I would not speak of a motive; I would speak of psychopathy, a condition, an illness,” the official said while discussing the ongoing investigation.
Authorities reported that Jasso Ramírez was allegedly fixated on mass violence incidents that occurred outside Mexico, particularly in the United States.
Among the items found in his possession were writings, images, and materials reportedly linked to the Columbine High School massacre, the school shooting that took place on April 20, 1999.
The investigation remains ongoing as authorities continue analyzing evidence connected to the suspect’s background and mental state.
International
Iran refuses to reopen strait of Hormuz amid ongoing U.S. Naval blockade
Iran reaffirmed on Wednesday that it will not reopen the Strait of Hormuz while the United States maintains its naval blockade against Iranian ports and vessels, amid rising geopolitical tensions in the region.
Iranian Parliament Speaker Mohamad Baqer Qalibaf warned that reopening the crucial maritime route depends on Washington honoring the ceasefire agreement. According to Qalibaf, Iran considers the deal to be violated due to ongoing U.S. actions.
The Iranian official accused the United States of carrying out a “naval blockade and the hijacking of the global economy,” while also pointing to Israeli military operations in Lebanon as part of the broader conflict affecting the region.
Qalibaf stated that military and economic pressure would not force Iran to change its position. “The United States and Israel failed to achieve their goals through military aggression, and they will not succeed through intimidation. The only path forward is to recognize the rights of the Iranian nation,” he said.
His remarks come amid stalled negotiations between Iran and the United States following direct talks held on April 11 and 12 in Islamabad.
The discussions, led by U.S. Vice President JD Vance and Iranian representatives, have shown little progress in recent days, increasing uncertainty over whether dialogue between the two sides will resume.
U.S. President Donald Trump recently announced an extension of the ceasefire but decided to keep the naval blockade in place, a move Tehran considers incompatible with ongoing negotiations.
Meanwhile, Iran’s Islamic Revolutionary Guard Corps intensified operations in the area by seizing two vessels in the Strait of Hormuz, accusing them of operating without the required permits and escorting them into Iranian territory.
The Strait of Hormuz remains one of the world’s most critical oil trade routes, and any prolonged disruption could have significant consequences for global energy markets.
International
Maradona’s daughter accuses medical team of “horrible manipulation” in court
One of the daughters of Diego Maradona testified in court this Tuesday, breaking down in tears as she denounced what she described as “absolute and horrible manipulation” by her father’s medical team, during an emotional hearing in Argentina.
Gianinna Maradona stated that she and her siblings agreed to home hospitalization after doctors presented it as the best option following the neurosurgery Maradona underwent on November 3, 2020.
The football icon died on November 25 of that year, and the ongoing trial seeks to determine whether the conditions of his home care were appropriate.
According to Gianinna, what the family found at the residence where Maradona was recovering did not match what had been promised. She testified that there was no adequate medical equipment, constant monitoring, or even an ambulance available, despite assurances of continuous care.
“The manipulation was absolute and horrible,” she said during the hearing in San Isidro, near Buenos Aires.
She accused members of the medical team, including neurosurgeon Leopoldo Luque, psychiatrist Agustina Cosachov, and psychologist Carlos Díaz, of misleading the family.
“I trusted these people, and all they did was manipulate us and leave my son without a grandfather,” she added.
Later in her testimony, recalling that six years have passed since her father’s death, she became emotional and said she struggled deeply with grief in the aftermath.
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