Delaware High Court Gears Up Corporate Law Review: The Brief

THE FALLOUT from a Delaware judge’s rejection of Elon Musk’s blockbuster pay package — including a corporate law overhaul in the state — goes before Delaware’s highest court Wednesday in a case with the potential to determine the state’s future as the country’s premiere corporate capital, Jennifer Kay and Mike Leonard report.

• The Delaware Supreme Court will consider the constitutionality of the law that narrowed the definition of “controlling stockholder,” making it easier to avoid scrutiny of potentially conflicted transactions. It reinforced the presumption that directors are capable of independent oversight and restricted shareholder access to internal corporate records.
• The ...