Delaware, long known as America’s corporate capital, is facing potential competition as technology company Meta considers leaving the state due to a contentious issue over shareholder lawsuits. Governor John Carney called for special weekend meetings to discuss the situation, expressing concern over losing the prized title. The controversy stems from new legislation passed by the Delaware state Senate without debate, changing corporate laws in a way that has been labeled a “shakedown” by critics. This move has raised questions about Delaware’s reputation as a business-friendly state and could potentially lead to other companies following in Meta’s footsteps and relocating to more favorable jurisdictions. The outcome of this situation remains uncertain, but it highlights the importance of maintaining a balance between corporate interests and shareholder rights in Delaware’s business landscape.
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