Trade Desk Told in Preliminary Ruling to Turn Over ‘DExit’ Files

Trade Desk Inc. should have to give internal files to a shareholder investigating its move from Delaware to Nevada, a magistrate judge said Thursday.

The preliminary ruling is the latest to grapple with fears of an exodus from Delaware, where corporate fees fund more than a quarter of the annual budget, as founders and other insiders say a judicial crackdown on insider conflicts of interest is driving them to relocate.

The lawsuit cited a “credible suspicion” that the reincorporation was part of a larger scheme to cement billionaire CEO Jeff Green’s corporate control by facilitating potential transactions aimed at preserving ...