this post was submitted on 02 Feb 2024
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Musk says Tesla will hold shareholder vote ‘immediately’ to move company’s incorporation to Texas (www.forbes.com.au)
submitted 9 months ago by L4s to c/technology
67 comments fedilink hide all child comments
 

Musk says Tesla will hold shareholder vote ‘immediately’ to move company’s incorporation to Texas::Billionaire Elon Musk justified the decision on the results of an unscientific poll run on his X account a day earlier.

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[–] [email protected] 45 points 9 months ago (1 children)

Do you know how crooked you have to be to have a Delaware™ court rule against you?

Delaware™ is a wholly owned subsidiary of the DuPont corporation, all rights reserved.

[–] partial_accumen 17 points 9 months ago* (last edited 9 months ago) (1 children)

Yeah, I alluded to that in my post but didn't dive in. I think this is going to be worse for Musk and Tesla. There are all kinds of taxation and corporate liability protections in Delaware that don't exist in Texas. There are possibly teams of lawyers salivating over this incorporation change going into place opening up new and previously unavailable avenues to attack Tesla under Texas law, or rather without Delaware protections.

edit:spelling

[–] [email protected] 2 points 9 months ago (1 children)

Hey, just a friendly heads up:

"Eluded" means escaped or evaded. "He eluded capture once again."

The word you wanted was "alluded", meaning to suggest or indirectly hint at without outright stating.

That's all, citizen. English-Major-Man, away!

[–] partial_accumen 1 points 9 months ago

Thanks for that! I like the correction. Edited original post to correct it.

That’s all, citizen. English-Major-Man, away!

You're using your powers for good!