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...The lawyers are members of the Delaware state bar association that customarily makes such proposals to update the state’s corporate 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....
...Greg Maffei’s Liberty TripAdvisor is also seeking to move to the state....
...Damocles of asserted uncertainty over the heads of Delaware judges . . ,” he drily noted....
...Bainbridge said he believed Delaware’s willingness to harness Musk would buttress the state’s supremacy rather than threaten it....
...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...
...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....
...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....
...And in that instance, the court is worried about the problem of self-dealing, a CEO trying to benefit himself at the expense of other shareholders....
...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?...
...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....
..., a state-owned oil and natural gas group....
...pay them up to one-third of the “benefit conferred” by the ruling — in other words, how much value was restored to shareholders....
...Hours after the ruling, which Tesla can still appeal against, Musk wrote on X: “Never incorporate your company in the state of Delaware.”...
...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....
...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...
...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....
...benefits of relocation....
...“Never incorporate your company in the state of Delaware,” Musk posted on X after Tuesday’s decision. “I recommend incorporating in Nevada or Texas if you prefer shareholders to decide matters.”...
...From a December press release: Liberty Media Corporation (“Liberty Media” or “Liberty”) (Nasdaq: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLYVK) and Sirius XM Holdings Inc....
...The need for a law, in part, is because an exception was carved into the law in 2004 to protect holders of claims larger than $500,000, which was to the benefit of investors intending to hold out from sovereign...
...President Joe Biden mentioned travel fees in his State of the Union address, saying his administration had proposed making “cable, travel, utilities and online ticket sellers tell you the total price up...
...“Never incorporate your company in the state of Delaware,” Musk commented on X, the social media platform he owns. Here is what the ruling means, if upheld, for the billionaire and his empire....
...His latest contribution to the debate is a threat to shift incorporation of his electric-car maker, Tesla, from Delaware to freedom-loving Texas, after a Delaware judge annulled his $55.8bn pay deal — the...
...Nor did it file in Delaware, where most of its entities are incorporated....
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