Warren Redlich - Chasing Dreams
@WR4NYGov
The attorneys suing Elon and Tesla claim to be acting "on behalf of ... stockholders of TESLA"
The stockholders of Tesla have spoken - twice - that they support the compensation package
They are not acting on behalf of the stockholders
The lawyers are acting solely for their own benefit, to collect billions in fees that will be taken from the stockholders
They also imposed hundreds of millions in litigation costs on Tesla, to shareholders' detriment
https://x.com/WR4NYGov/status/1804422325854708084Lewis Withrow (LB)
@LewisWithrow5
According to a speaker in the Delaware House of Representatives, Delaware receives 60% of the state's income from being the preferred corporate domicile.
60% !!
They were debating Delaware Bill SB 313
Delaware Senate Bill SB 313, currently under consideration in the state's 152nd General Assembly, proposes significant amendments to the Delaware General Corporation Law. This bill responds to a recent Delaware Court of Chancery ruling, which invalidated certain stockholder agreements that transferred substantial governance authority from corporate boards to investors. The court deemed these agreements in violation of Section 141(a) of the Delaware General Corporation Law.
SB 313 aims to retroactively legalize these types of stockholder agreements, allowing corporations to enter into contracts with investors that include provisions previously invalidated by the court. The bill specifies conditions under which these agreements can include penalties for non-compliance and the appointment of stockholder representatives with exclusive authority to enforce stockholder rights under merger agreements.
The bill has sparked controversy, with critics arguing that it represents a hasty and sweeping change to corporate governance laws, driven by corporate interests to mitigate the uncertainty caused by the court's decision. Opponents, including legal scholars and attorneys, argue that the bill could undermine shareholder rights and disproportionately benefit private equity investors, urging a more cautious approach to legislative amendments.
https://x.com/LewisWithrow5/status/1804464810525917390
