Delaware is a state where many large companies on the Fortune 500 list are registered. This state has a unique legal system that Musk has recently begun to encounter and conflict with.
On the one hand, Delaware courts are more willing to side with companies by making decisions that investors do not like. On the other hand, the courts of this state can launch a real “crusade” against a particular company.
Neuralink also began a conflict with the local regulator from the moment Musk acquired the former Twitter, which escalated into a conflict. Details were not disclosed; company lawyer Philip Mao declined to comment.
Neuralink’s re-registration was reported by Bloomberg, citing the Nevada Secretary of State’s Office and a notice to the company’s investors. The latest turning point in Musk’s confrontation with Delaware was two cases: banning an entrepreneur who refused to buy the old Twitter and blocking rewards for achieving Tesla’s goals in lieu of salary; Musk was supposed to receive $56 billion from the company. It is noteworthy that in both cases, the decision was made by Delaware Court of Chancery Judge Katalin McCormick.
Source: Ferra
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
