Tesla has adopted a new corporate bylaw that significantly restricts shareholders’ ability to sue company leadership for breaches of fiduciary duty, marking a consequential shift in its legal governance following its reincorporation in Texas. The amendment, disclosed in a regulatory filing on Friday, introduces a 3 percent ownership threshold for initiating or maintaining derivative proceedings—lawsuits [...]The post Tesla Moves to Limit Shareholder Lawsuits with New Corporate Bylaw After Texas Incorporation appeared first on Tekedia.
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