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Open original source ↗Important new information on this front. New Texas law SB 29 allows the company to set a threshold of 3% as a minimum requirement for a derivative suit. So lawyers need a substantial plaintiff. This eliminates the problem Elon is referencing.
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🚨ELON MUSK Calls Out Predatory Shareholder Lawsuits “Something needs to be done about the shareholder derivative lawsuits in the U.S. because it allows plaintiffs' law firms, who don’t represent the shareholders, to pretend that they represent shareholders by getting a public plaintiff with a few shares to initiate a massive lawsuit against a company.” This is a MAJOR issue in Delaware
LeaveDelaware ↗