Delaware is poised to give corporate officers more protections in its courts against shareholder lawsuits after criticism by billionaire Elon Musk and other influential business titans that rattled top public officials in what they call the corporate capital of the world. Lawmakers approved fast-tracked legislation Tuesday night backed by the Gov. Matt Meyer and Delaware […]
Delaware is facing pressure from Big Business, including Elon Musk, regarding shareholder lawsuits, potentially leading to increased protections for corporate officers in its courts. The state relies heavily on revenue from corporate license fees and taxes, enabling a low sales tax rate. Recent legal challenges, like the overturning of Musk's Tesla compensation package, have rattled Delaware officials. The state's corporate law courts are experienced and handle a significant number of business entities.