Reported 27 days ago
The American Investment Council, representing major private equity firms, is backing a contentious bill in Delaware aimed at revising corporate laws, making it tougher for shareholders to sue companies and executives. The bill, often criticized as a 'billionaires' bill', gained traction following Elon Musk's threats to relocate his businesses after a court ruling against his compensation package. Despite opposition from public pension funds and shareholder advocacy groups, the legislation passed the state House and Senate, showing a significant lobbying effort amidst fears of a corporate exodus from Delaware.
Source: YAHOO