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...Tesla has asked its shareholders to approve moving its state of incorporation from Delaware to Texas, fulfilling chief executive Elon Musk’s promise in February after a Delaware court voided his $56bn pay...
...Damocles of asserted uncertainty over the heads of Delaware judges . . ,” he drily noted....
...Collins Seitz Jr, the chief justice of the Delaware Supreme Court, tried to play statesman, noting the state is “not trying to win popularity contests” and that “Delaware has always persevered”....
...Delaware has been accused in the past of being over-friendly to boards; it now faces a fresh judicial challenge. The US tradition of legal competition among states is distinctive....
...Bainbridge said he believed Delaware’s willingness to harness Musk would buttress the state’s supremacy rather than threaten it....
...So Delaware is a relatively small state. It’s one of the 13 original colonies, I believe....
...Delaware now dominates incorporations. Between franchise fees and a vibrant legal community, it is an important driver of the small state’s economy....
...The company is asking shareholders again to vote in favour of Elon Musk’s 2018 pay package — the same one nullified earlier this year by the Delaware Court of Chancery....
...Tesla has asked its shareholders to approve moving its state of incorporation from Delaware to Texas, fulfilling Elon Musk’s promise in February after a Delaware court voided his $56bn pay package....
...Elon Musk is to shift the incorporation of SpaceX from Delaware to Texas, seeking to further limit exposure to the state after a judge there shot down his $56bn pay package from Tesla last month....
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..., a state-owned oil and natural gas group....
...A spokesperson for the Delaware Department of State said Tuesday that it has referred what appears to be a faked iShares filing to the state’s Department of Justice....
...The committee “initially considered all US states as well as the possibility of incorporating outside of the US”, before drawing up a 10-state shortlist — California, Delaware, Florida, Maryland, Nevada,...
...Hours after the ruling, which Tesla can still appeal against, Musk wrote on X: “Never incorporate your company in the state of Delaware.”...
...The change from Delaware to Nevada was completed on Thursday, according to documents filed to the office of the Nevada secretary of state....
...Following the decision, Musk wrote on X: “Never incorporate your company in the state of Delaware.”...
...The lawyers who represented victorious Tesla shareholders may be in line for a record-breaking payout worth hundreds of millions, or even billions, of dollars after a Delaware court on Tuesday voided a $56bn...
...Attorneys for shareholders who defeated Elon Musk’s $56bn Tesla pay package have asked a Delaware state court to award them shares in the electric vehicle maker worth nearly $6bn as payment....
...For 40 years, a 12th-century walrus-ivory carving on loan to the V&A in London has captured the imagination of museum visitors....
...The billionaire posted his comments about shifting to the state where Tesla’s physical headquarters are located following the ruling this week by Kathaleen McCormick, a judge in the Delaware Court of Chancery...
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...The ruling came from a small court that oversees most large US public companies, thanks to so many of them being incorporated in the state....
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