Elon Musk Criticizes Delaware Law

This is a Delaware news story, published by CNBC, that relates primarily to Elon Musk news.

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CNBC

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Business

Business & Economics

After Elon Musk’s Delaware exit, state lawmakers weigh bill to overhaul corporate law

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83% Informative

Tesla CEO Elon Musk took on Delaware 's corporate law after a judge rescinded his $56 billion CEO pay package.

Several companies, including Dropbox , Meta and Bill Ackman's Pershing Square Capital , are either considering incorporation moves or have already made plans to exit.

State lawmakers are now considering a controversial bill that would make Delaware a more attractive state for businesses.

A group of 21 law firms, including Cravath, Swaine & Moore , Gibson Dunn and Latham Watkins , sent a letter of encouragement to the state's general assembly.

The legislation has support from some prominent party leaders, including the governor, as well as corporate defense attorneys, legal scholars and former litigants unhappy with prior rulings in Delaware .

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formal

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English

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not hateful