The Cleveland Bakers and Teamsters Pension Fund group accused the CEO of the e-commerce company of preventing the Kuiper Project from moving forward.
Jeff Bezos vs Elon Musk: Amazon shareholders enraged because they did not want to hire SpaceX
Courtesy: Emprendedores.News
Amazon shareholders are suing Jeff Bezos for rejecting a satellite contract with SpaceX, owned by Elon Musk. They accuse Amazon executives of “knowingly and willfully failing in their most basic fiduciary responsibilities” in their choice to purchase rocket launchers for their satellite internet system, the Kuiper Project.
This is a lawsuit brought by the Cleveland Bakers and Teamsters Pension Fund (CB&T) before the Delaware Court of Chancery on behalf of the firm against Bezos, its current CEO, Andy Jassy, and other top Amazon executives.
In their presentation they argue that Amazon contracted Bezos’ space company Blue Origin for $2.7 billion without considering SpaceX as an alternative. The companies United Launch Alliance and Arianespace, also received contracts for the treatment of the Kuiper Project.
In total e-commerce company It has expectations of investing US$7.4 billion for satellite launch services until 2028.
In this framework, they concluded that SpaceX has the best track record of all the companies in the sector and that an agreement with Musk’s firm would not have been a great cost for Amazon. According to the lawsuit, the board of directors of Amazon “excluded the most obvious and affordable launch provider, SpaceX, from its acquisition process due to Bezos’s personal rivalry with Musk.”
According to the lawsuit, Amazon’s board of directors “excluded the most obvious and affordable launch provider, SpaceX, from its acquisition process due to Bezos’s personal rivalry with Musk.”
“The claims in this lawsuit are completely unsubstantiated and we hope to prove it through the legal process,” an Amazon spokesperson said. The lawsuit includes a screenshot of a post by Musk on his social network X (Twitter), in which he mocks Bezos after closing a $ 2.9 billion contract with NASA to make a “human landing system.” on the moon.
Source: Ambito
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