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...“Insider sales by high-level execs of large amounts of stock are never a good sign, it’s quite simple,” said Elson from the University of Delaware....
...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....
...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....
...“After ‘investment banker’, ‘independent director of a Delaware public company’ is the safest job in M&A,” Leo Strine, former chief justice of the Delaware Supreme Court, liked to quip....
...This group briefly considered an option to domicile Tesla outside the US, but then drew up a shortlist of 10 states, before whittling the options down to Texas and Delaware....
...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....
...for large corporations thanks in part to a transparent corporate law regime, years of legal precedent and a community of lawyers....
...a way to hold the sword of Damocles of asserted uncertainty over the heads of Delaware judges . . ,” he drily noted....
...Michela Tindera Of course, Delaware, like any other state in the US, has a number of different courts in its system. There’s the state’s Supreme Court, a family court....
...At the same time it wrote: “Delaware law can be indeterminate because of its use of broad, flexible standards that are applied to individual cases in a highly fact-specific way.”...
...Soon after, Musk took to his social network X and offered some advice: “Never incorporate your company in the state of Delaware.” But will anyone take it?...
...Delaware now dominates incorporations. Between franchise fees and a vibrant legal community, it is an important driver of the small state’s economy....
..., a state-owned oil and natural gas group....
...A hard-to-replicate combination of decades of legal precedent and an established legal community make the state attractive to corporations....
...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...
...Musk is also seeking to change the company’s state of incorporation to Texas, partly in protest at a Delaware court decision to void a $56bn pay package he was awarded in 2018....
...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....
...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....
...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...
...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 ruling came from a small court that oversees most large US public companies, thanks to so many of them being incorporated in the state....
...Families are one thing but the locals are not thrilled by the arrival of large corporations....
...Then, a mere 10 hours before the bankruptcy filing, a company lawyer changed the address of the shell corporation to a post office box in Houston....
...The immediate fate of 72,000 of them lies with a judge in Delaware who, after a hearing in January, is expected to announce within weeks whether to admit plaintiffs’ scientific evidence alleging that the...
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