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It's worth noting that companies can change the state that they are incorporated in. Elon is considering changing Tesla to Texas. After he changes, I wonder if
by Meekro 3y ago
It's worth noting that companies can change the state that they are incorporated in. Elon is considering changing Tesla to Texas. After he changes, I wonder if Elon's lawyers can get this re-litigated somehow?
https://twitter.com/elonmusk/status/1752491924848820595 https://twitter.com/elonmusk/status/1752491924848820595
- aw1621107 3y ago> After he changes, I wonder if Elon's lawyers can get this re-litigated somehow? I'm rather skeptical that such a thing could happen. The events in question all occurred while Tesla was incorporated in Delaware, so I don't think there would be any reason for the laws of Texas to apply. As far as Texas is concerned all the relevant events happened to someone outside of its jurisdiction. Granted, I'm not a lawyer, let alone one licensed to practice in either Delaware or Texas, so a few grains of salt are more than warranted.
- Zigurd 3y agoLegal tricks are seldom workable in real life. In this case evading a shareholder class action by moving to Texas is very unlikely to work. Ask the NRA how much good that did.