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...On Thursday, March 28, a group of powerful Delaware lawyers put in motion a plan to make a series of changes to the state’s eminent corporate code, known as the Delaware General Corporation Law....
...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...
...On Wednesday, Travis Laster, a vice-chancellor on the Delaware Court of Chancery, took aim at the corporate bar....
...Amid New Orleans festivities, rainmakers wonder if the party is over for Delaware Delaware, Inc. may be the enterprise now under the most intense activist threat....
...Elon Musk’s $55bn pay package from Tesla has been voided by a Delaware judge, who ruled that the unprecedented compensation was improperly approved by the automaker’s board of directors and had short-changed...
...Delaware obviously took decades, if not centuries. And so there’s a huge head start that a place like Delaware has....
...Expert as Musk is at disruption, Delaware’s incumbency will be hard to dislodge....
...Most Delaware watchers are, however, unworried....
...But in business matters, Delaware and New York state law remain pre-eminent....
...Denholm wrote: We do not agree with what the Delaware Court decided, and we do not think that what the Delaware Court said is how corporate law should or does work....
...Texas corporate law, it says, leans on Delaware doctrines and will not impede shareholder rights....
...A Delaware court recently struck down Elon Musk’s $56 billion Tesla pay package....
...Texas has recently sought to position itself as a rival to Delaware’s business-friendly reputation....
...The bigger picture is that Delaware chancery courts are there to make sure company boards and management are behaving appropriately....
...Handler’s breach of contract claims against Centerview over back pay and equity remain pending in the Delaware court....
...(We asked Delaware’s representative, but their only comment was about the DoJ referral.)...
...Hours after the ruling, which Tesla can still appeal against, Musk wrote on X: “Never incorporate your company in the state of Delaware.”...
...New York, Ohio, Pennsylvania, Texas and Virginia — that was later narrowed to five, then finally to two: Delaware and Texas....
...TripAdvisor, controlled by Greg Maffei, recently has attempted to move from Delaware to Nevada....
...If granted by the Delaware court, Bernstein would be among the 10 largest shareholders of the company....
...Elon Musk’s $55bn pay package from Tesla has been voided by a Delaware judge, who ruled that the unprecedented remuneration was improperly approved by the electric-car maker’s board of directors and had...
...But Bernstein’s Varallo vigorously defended Delaware as a fair venue for both shareholders and companies....
...Musk’s Tesla pay package of $56bn was voided by a Delaware judge on Tuesday. Following the decision, Musk wrote on X: “Never incorporate your company in the state of Delaware.”...
...The family is appealing to the Delaware Supreme Court....
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