Tesla Poised To Gain As Texas Declares 'Dexit,' Passing Bills To Shield Companies From Shareholder Lawsuits After Elon Musk's Pay Battle
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Texas lawmakers have passed two bills, Senate Bill 29 and Senate Bill 1057, aimed at reducing shareholder influence over corporations, potentially benefiting companies like Tesla. These bills, awaiting Governor Abbott's signature, would make it more difficult for shareholders to sue companies and increase requirements for resolutions at annual meetings. This legislation, referred to as 'Dexit,' comes as Tesla has reincorporated in Texas following legal challenges in Delaware. The bills have garnered support from major companies and are seen as a response to shareholder activism.
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