TripAdvisor’s Nevada Relocation Plan Hit With Court Challenge

TripAdvisor Inc.'s senior leaders are facing investor litigation in Delaware challenging their plan to relocate the company to Nevada, a move allegedly aimed at reducing their potential liability to shareholders.

The lawsuit targets TripAdvisor chairman Greg Maffei, who allegedly controls the company through supervoting shares. Maffei is a longtime media executive who also leads the boards of Live Nation Entertainment Inc. and Sirius XM Holdings Inc.

The suit accuses Maffei and other board members of trying to take advantage of recent legal changes in Nevada that make it virtually impossible to hold corporate leaders there accountable for fiduciary breaches. The ...