TripAdvisor Argues Delaware’s Relocation Standards Are Too High

A Delaware Chancery Court ruling allowing shareholders to seek damages over TripAdvisor Inc.’s planned relocation to Nevada is impractical and applies the wrong standard of review, the travel review and booking website said in an appeals brief that was made public Tuesday.

The February ruling allows TripAdvisor to leave Delaware for Nevada, which offers officers and directors more protection from shareholder lawsuits.

It’s unrealistic for the Chancery Court—long the country’s premier venue for corporate litigation—to expect “a well-functioning special committee comprised entirely of independent directors” in every corporate reincorporation, TripAdvisor said in its opening brief to the Delaware Supreme Court. ...