https://www.newsmax.com/newsfr...dkt_nbr=0105028ucr1w

The nation's largest shopping mall owner said it's leaving Delaware as its state of incorporation, citing concerns of increasingly woke behavior by courts.

Simon Property Group, an S&P 500 company valued at $60 billion, last week said it could no longer rely on Delaware courts, which now allow for "meritless litigation" and "judicial interpretation without a clear statutory bias," Law.com reported.

The move mirrors Elon Musk's decision last year to move multiple companies, including Tesla and SpaceX, out of Delaware.

Delaware was once the gold standard for its corporate legal system.

But major corporations have joined Musk in his warnings that the blue state is simply too woke for any company to domicile there.

Recent press reports indicate corporate giants like Meta, parent of Facebook, and Walmart are preparing to move their domicile from Delaware.

Online player Dropbox quit Delaware recently and Coinbase chief legal officer Paul Grewal warned on X that "Delaware is at serious risk of losing its standing as the leading state of incorporation for American companies."

Billionaire Bill Ackman, CEO of Pershing Square Capital Management, said in an X post in early February that he planned to move his management company out of Delaware to reincorporate in Nevada or Texas.

Several recent rulings have ignited concern about the courts.

Delaware Chancellor Judge Kathaleen McCormick in December ruled that Musk was not eligible for a 2018 compensation package then valued at $56 billion, a package that would be worth over $100 billion in value today.

Musk was not happy with McCormick's ruling and took to X, writing, "Shareholders should control company votes, not judges." The billionaire has urged other companies to leave Delaware for other states.

Some critics said Judge McCormick, a Democrat, was acting to confiscate Musk's legitimate compensation, approved by Tesla shareholders twice, for becoming a critic of the Biden administration and opening X to conservatives.

McCormick suggested Musk's package was too large, but then awarded the law firm which sued over the deal some $345 million for their legal filings. The law firm itself never suffered any damage as a result of Musk's compensation award.

Similarly, in 2023 Fox News settled a libel suit brought by Dominion Voting Systems for an unprecedented $787 million, the largest amount ever known for a defamation case.

Soon after the settlement, Fox News' then legal chief Viet Dinh, slammed the Delaware courts saying the judge in the case had failed to allow the network to offer a standard libel defense, including showing their balanced coverage of the 2020 election to a potential jury.

Delaware Gov. Matt Meyer told Business Insider the state faces a credibility problem but said he would try to lure back companies that leave.

"Any company thinking about leaving, we're actively reaching out, we're talking to them, we're understanding what the issues are and understanding what ways we can do better," Meyer told the outlet. "And for those entities that have already made the decision to leave, we're going to continue to work hard to earn their trust and hopefully to have them come back."

I read recently that 40% of the state’s budget is/was funded by the fees levied on these corporations …..

Will have a severe impact on the state’s economy.

quote:

"Any company thinking about leaving, we're actively reaching out, we're talking to them, we're understanding what the issues are and understanding what ways we can do better," Meyer told the outlet. "And for those entities that have already made the decision to leave, we're going to continue to work hard to earn their trust and hopefully to have them come back."

Well, governor, tell us exactly how you intend to fix these woke judges?

Thanks for that post 6guns. It’s heartening to know that corporations are responding appropriately to these blue judge rulings.

Good for businesses to vote with their feet and abandon woke states like Delaware and others for business friendly states. What business is it of the courts how much money Elon Musk earns so long as he earned it legally. If the governor wants to save his state he needs to find a way to get rid of woke judges who abuse their position for personal/political gain and replace them with judges who will stay in their lane and abide by the law they've sworn to uphold.

quote:

Delaware Chancellor Judge Kathaleen...McCormick suggested Musk's package was too large

First time I've heard that one!

https://www.newsmax.com/newsfr...dkt_nbr=010104qmo2g3

AMC Moving from Delaware as Corporations Exit

AMC Networks Inc., owner of the popular cable AMC Channel, is planning to move its corporate domicile from Delaware and reincorporate in Nevada, joining a growing list of companies abandoning the state.

The AMC news hit just days after Madison Square Garden Entertainment announced it was planning to leave Delaware, a move made by at least 20 major companies in the past year, according to Robert Anderson, a professor of law at the University of Arkansas.

In a recent shareholder notice, AMC Networks Inc. said it sought approval of plans to 'redomesticate' from Delaware to Nevada, marking the latest high-profile exit from a state under fire for its left-leaning judicial system.

cont...

It sound be great to see Delaware bankrupted and the blame rests squarely on the governor, his legislature and his judges.

Can’t blame anyone else

Good! Any state that allows a certain judicial system to do what they want just because, should lose more until they change the problem. If they can't straighten it out, too bad. There are plenty of states that will welcome them and do it for less.