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...Delaware....
...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...
...The state itself, obviously, Joe Biden, the current president of the United States, is the long time senator from Delaware. The DuPont chemical company is famously from Delaware....
...The Delaware court of chancery dates to the 18th century and has faced many challenges in its time....
...Lipton eventually became a leading evangelist for the “Delaware Way”....
...In its recent annual report, the Delaware court noted that its caseload remained “staggeringly high”, even after it had added new judges and shifted some matters to other parts of the Delaware court system...
...The FT’s Wall Street editor Sujeet Indap explains how Delaware became the favourite place for big companies to incorporate and why that’s unlikely to change....
...Musk, the world’s richest man, switched the incorporation of his brain-implant company Neuralink from Delaware to Nevada last week....
...The bigger picture is that Delaware chancery courts are there to make sure company boards and management are behaving appropriately....
...(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.”...
...The Delaware judge overseeing the case, Kathaleen McCormick, said Musk controlled the board through his personality and influence, even with just a 22 per cent stake in Tesla, and the board could not demonstrate...
...in Delaware....
...After the decision Musk posted on X, the social media platform he owns: “Never incorporate your company in the state of Delaware.”...
...If granted by the Delaware court, Bernstein would be among the 10 largest shareholders of the company....
...Pilita Clark (Opinion, March 20) follows Leo Strine, former chief justice of the Delaware Supreme Court, in arguing that Orwellian doublethink is killing climate action....
...The decision on the pay package must also be sound enough to survive any appeal Tesla may take to the Delaware Supreme Court....
...Following the decision, Musk wrote on X: “Never incorporate your company in the state of Delaware.”...
...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 case filed in the Delaware Court of Chancery comes as corporate settlements with activists become more common....
...It is extraordinary,” Charles Elson, a governance expert at the University of Delaware, told me this week....
...Terraform Labs, the company behind the $40bn collapse of TerraUSD digital tokens in 2022, has filed for Chapter 11 bankruptcy protection in the state of Delaware as its co-founder Do Kwon faces a civil trial...
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