NEW YORK ¨C Elon Musk¡¯s plan to pull up stakes from Delaware and reincorporate Tesla in Texas may not give the electric carmaker¡¯s CEO the greater freedom he desires given the lack of history and different rules in that state¡¯s business courts, legal experts said.
After suffering a bruising loss this week in Delaware¡¯s Chancery Court that voided his $56 billion pay package, Musk said on social media site X on Thursday that Tesla would "move immediately to hold a shareholder vote to transfer state of incorporation to Texas."
"Change your state of incorporation out of Delaware before they lock the doors," Musk added later on Thursday.
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