Tag #Delaware Corporate Law

What are the immediate consequences if the Delaware legislature approves the proposed bill that alters Delaware corporate law?

A Delaware law firm, Richards, Layton & Finger, proposed legislation that could reinstate Elon Musk's tens-of-billions-of-dollars CEO pay package at Tesla, which was previously rescinded by the Delaware Court of Chancery for being inappropriately set by a Musk-controlled board and misleading shareholders. The bill alters Delaware General Corporation Law, potentially lessening scrutiny of self-dealing transactions involving controllers and limiting minority stakeholder access to internal communications.