Overview

• Several major shareholders filed the lawsuit just before Tesla's annual meeting.
• The suit alleges Musk poached 11 Tesla employees for xAI and diverted AI resources.
• Musk's actions are compared to a CEO starting a rival company and using their original firm's assets.
• Tesla's board is accused of failing to protect shareholder interests against Musk's actions.
• Musk argues his compensation package is necessary to maintain control and prevent starting a competitor.