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 2 years ago by L4s@lemmy.world to c/technology@lemmy.world
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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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[–] partial_accumen@lemmy.world 15 points 2 years ago* (last edited 2 years ago)

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.

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