Today's Business Headlines: 03/27/26
A Delaware judge said Monday she will step aside from several cases involving Elon Musk after his lawyers accused her of biasthat she will reassign the group of suits to a different judge, days after Musk’s legal team pointed out the controversial social media.
While stepping aside from the cases in Delaware, McCormick insisted she was not in fact biased against the high-profile defendant.“The motion for recusal rests on a false premise — that I support a LinkedIn post about Mr. Musk, which I do not in fact support,” she wrote. “I am not biased against the defendants in these actions. “But the motion for reassignment is granted,” McCormick continued. “As should be obvious, disproportionate media attention surrounding a judge’s handling of an action is detrimental to the administration of justice.Air Canada CEO steps down amid backlash over apology video after fatal LaGuardia plane crash — because it wasn't in FrenchShe said the cases would be taken over by three colleagues in Delaware’s Court of Chancery — the nation’s premier venue for corporate litigation, where judges routinely decide high-stakes disputes involving fiduciary duties and board governance for companies incorporated in the state. Last week, lawyers for Musk demanded McCormick recuse herself because she pressed a button indicating she “supported” a post mocking Musk for being found liable for tweets he posted in 2022 about his $44 billion Twitter deal. LinkedIn’s “support” feature is similar to “liking” a post on it and other social media platforms. Musk’s attorneys said the judge’s alleged social media activity created an unavoidable appearance of bias under Delaware law, which requires recusal where there is “any reasonable basis to question the impartiality of the trial judge.” “I either did not click the ‘support’ icon at all, or I did so accidentally. I do not believe that I did it accidentally,” the jurist replied last week. The litigation before McCormick involved consolidated shareholder derivative lawsuits accusing Musk and Tesla’s board of breaching fiduciary duties, including claims tied to executive compensation and broader corporate governance issues. One of the central cases, brought by a Detroit pension fund, challenges how Tesla’s directors awarded themselves stock-based compensation, alleging the company was harmed by excessive pay and weak oversight. The lawsuits have been combined with related claims, some of which involve Musk’s conduct surrounding the 2022 Twitter deal, creating overlap with issues raised in the recent federal case in California. McCormick has been at the center of multiple headline-grabbing cases involving Musk, including the 2022 lawsuit that sparked him toThat case was fast-tracked under McCormick’s supervision, with the judge pushing it toward a trial where she could have ordered Musk to close the transaction — a move that ultimately led the billionaire to back down and finalize the purchase just days before trial.A jury earlier this month found Musk liable for misleading Twitter shareholders ahead of his 2022 acquisition of the company.The relationship grew more contentious in 2024, when McCormick voided Musk’s massive Tesla compensation package, then valued at roughly $56 billion, ruling that the process was flawed and overly influenced by the CEO.Musk’s motion for a recusal included a screenshot of a LinkedIn post that was liked by a member of McCormick’s staff. Although the Delaware Supreme Court later reversed the decision on remedy grounds, reinstating the pay package, the case intensified Musk’s criticism of the court’s home state, prompting him to publicly urge companies to incorporate elsewhere and fueling a broader debate over Delaware’s dominance in corporate law.Radical fraud busting campaign to see tipsters rewarded with huge bounties Air Canada CEO steps down amid backlash over apology video after fatal LaGuardia plane crash — because it wasn't in French Taylor Frankie Paul and rumored ‘Bachelorette’ winner Doug Mason turn heads with social media exchangeIran claims US planning assault during talksA LinkedIn post cited in Elon Musk’s recusal motion appears with a banner reading “Katie McCormick supports this.” A jury earlier this month found Musk liable for misleading Twitter shareholders ahead of his 2022 acquisition of the company.Musk's motion for a recusal included a screenshot of a LinkedIn post that was liked by a member of McCormick's staff. Stream It Or Skip It: 'Jo Nesbø's Detective Hole' On Netflix, Where A Troubled Detective Tracks Down A Serial Killer Who Is Terrorizing Oslo
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