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Meta is in discussions to re -corporate out of Delaware, becoming the latest technology group to study the exit from the state that has long been considered a shelter of US corporations.
The Social Media Group is weighing by moving its legal residence in another state, such as Texas, but has not decided for a destination, said one person acquainted with the matter.
The talks come after Meta’s chief executive Mark Zuckerberg earlier this month announced that the company would relocate its US -based trust and security staff from California to Texas as part of a wide ‘free speech’ adjustment its to moderation of content.
Zuckerberg said at the time the change will help the company “build confidence to do this work in places where there is less concern about the prejudice of our teams”.
Meta has faced charges by President Donald Trump and his allies that he censors conservatives and is employed by Liberal -based employees, but has recently tried to judge the new administration.
Meta refused to comment on a possible shift. However, the group said there was no plan to move its corporate headquarters from California. Wall Street Journal reported for the first time on its possible reconstruction.
Last year, Elon Musk won the shareholders by relying to reincarnate the Tesla Electrical Vehicle Manufacturer in Texas, leaving Delaware after a dispute for a lawsuit seeking to block his large salary package, which is rejected two times by the court of state corporate law.
Musk, the richest man in the world, also reinorporated his social platform X from Delaware to Texas.
Delaware has fought by judging disputes with companies with dominant shareholders or double grade shares. Corporate law of the state imposes higher standards of legal review for these so -called controlled companies.
Meta had faced several lawsuits for violating delaware confidence by minority shareholders, including a reclassification of shares that would give Zuckerberg more voting power, an action that the company abandoned in 2017 before a trial.
Approximately two -thirds of the S&P 500 are included in Delaware and many entrepreneurial capital investors require their beginnings to make their own legal residence there.
Corporate law observers believed that investor protection in the state would force management teams to remain in Delaware. But a large company such as Meta’s departure can become a bell for further migration.
On Friday, Dropbox, a cloud storage provider, said its shareholders adopted a reconstruction in Nevada from Delaware. The change was partially due to an “increasingly cordial environment in Delaware,” Dropbox said in a regulatory representation.
In November, the trade table, a online marketing company, said its shareholders adopted a reconstruction in Nevada from Delaware.
A lawsuit by historical investors is continuing through the Delaware Court brought by Tripadvisor’s minority shareholders, who are seeking damage from those who say they are losses coming from the management of the company taking more power from a recent reincarnation in Nevada .
