Report: SpaceX IPO gives Musk unchecked power and forbids investor lawsuits

SpaceX’s plan to go public will reportedly give CEO Elon Musk “virtually unchecked executive authority” and limit the rights of shareholders to sue the company. The plan, reported by Reuters today, could prevent shareholder lawsuits like the one that held up a lucrative Musk pay package at Tesla. “Excerpts of SpaceX’s IPO registration statement reviewed by Reuters show the company is combining supervoting shares, mandatory arbitration, stricter rules on shareholder proposals and Texas corporate …