🚨NEW: Simon Property Group, an S&P 500 company valued at $60 billion, has announced plans to leave Delaware, citing concerns over “meritless litigation” and “judicial interpretation without a clear statutory bias.”
Last year, Delaware activist Judge Kathaleen McCormick allowed meritless litigation to overturn @elonmusk’s compensation package, overruling Tesla’s board and 80% of its shareholders.
Instead, Judge McCormick ordered Tesla to pay $345 million in legal fees to attorneys representing a plaintiff who held only nine shares of the company.
In response, major corporations, including Meta, Dropbox, Tripadvisor, Pershing Square, Tesla, SpaceX, Neuralink, and others, have either left Delaware or announced plans to reincorporate elsewhere.
Judge McCormick has extensive ties to President Joe Biden, previously working at Young Conaway, a law firm among Biden’s top donors, and receiving her judicial nomination from John Carney, one of Biden’s closest allies.
In a March 2018 email, Hunter Biden claimed to personally know every judge on the Delaware Chancery Court while threatening legal action against his Chinese business partners.
Democrat lawfare leaves behind a trail of destruction for the State of Delaware.
