Dell Seeks Texas Move With Shareholder Limits: Texas Brief

Dell Seeks Shareholder Limits in Texas Move

Dell is asking shareholders to approve relocating its legal home from Delaware to Texas, a move that would bring new restrictions on shareholder proposals and derivative lawsuits, Drew Hutchinson reports.

If the move is approved at its June 25 meeting, Dell plans to opt into a Texas law that allows companies to set a 3% or $1 million stock ownership threshold, whichever is less, for shareholder proposal submissions, according to a preliminary proxy statement filed Monday.

The company would also gain a new 3% stock ownership requirement for shareholder wishing to ...