Richard Clough

3 weeks ago | news.bloomberglaw.com | Richard Clough |Ari Natter

Tesla Inc.’s shares sank the most in almost three months as Elon Musk and President Donald Trump’s simmering feud devolved into a public war of words between two of the world’s most powerful people. Trump on Thursday said he was “very disappointed” by the Tesla chief executive officer’s criticism of the president’s signature tax policy bill.

3 weeks ago | news.bloombergtax.com | Richard Clough |Ari Natter

An all-but-doomed tax credit highlights just how much Elon Musk’s biggest business has to lose under President Donald Trump. Trump’s massive tax bill would largely eliminate a credit worth as much as $7,500 for buyers of some Tesla Inc. models and other electric vehicles by the end of this year, seven years ahead of schedule. That would translate to a roughly $1.2 billion hit to Tesla’s full-year profit, according to JPMorgan analysts.

1 month ago | news.bloomberglaw.com | Richard Clough |Madlin Mekelburg

Tesla Inc. took a step to prevent future shareholder lawsuits like the one that blocked a record-setting pay package for Chief Executive Officer Elon Musk. The automaker late Friday disclosed changes to its corporate bylaws that will require investors to own at least 3% of the company’s shares in order to “institute or maintain a derivative proceeding.” The move was taken on May 15, according to a regulatory filing.