Delaware’s status as corporate capital might be on the line in a fight over shareholder lawsuits

Delaware’s ‘Billionaires’ bill’ heads to the House after easily clearing state Senate

Supporters of the legislation say changes are needed to ensure companies have clarity and predictability in Delaware’s corporate franchise.

Top Delaware firm takes quiet role in corporate amendment debate

Richards, Layton & Finger officials say their role in drafting the controversial corporate law bill was a way to address existing concerns from businesses. The post Top Delaware firm takes quiet role in corporate amendment debate appeared first on Delaware Business Times.

Texas vs. Delaware: See you in court

Delaware is in a battle to keep our place on the corporate map, said Ben duPont in the Wilmington News Journal. More than two-thirds of the companies in the S&P 500 are incorporated in the nation’s second-smallest state, including Amazon, Google, and Coca-Cola. The primary reason is that we have a separate business court system, “where disputes are decided by judges with extensive experience in corporate law.” These judges—known as chancellors i…

Delaware lawmakers to vote on corporate law overhaul in face of criticism

By Tom Hals WILMINGTON, DEL. (Reuters) – Delaware lawmakers are expected to vote to overhaul the state’s corporate law on Thursday to protect its business-friendly reputation, but opponents have called the bill a giveaway to billionaires. The bill makes it hard for investors to sue over certain transactions involving controlling shareholders, such as buying a controlling shareholder’s business, if the deal follows certain steps. It also applies …

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Delaware Lawmakers Advance “Billionaires’ Bill” Shielding Corporate Executives from Accountability

Delaware’s Senate has approved a bill that would shield corporations from shareholder accountability in a state where two-thirds of all Fortune 500 companies are registered. The legislation is backed by Democratic Governor Matt Meyer and was written by the law firm that represents Tesla and Elon Musk. The bill would make it harder for shareholders to access internal corporate documents and communications and would give corporations more protecti…