Significant proposed changes to the Delaware General Corporation Law have sent ripples of concern among influential lawyers in Delaware who are wary about the potential impact on the state’s business standing. These alterations have received massive attention, especially from business magnate Elon Musk, Tesla co-founder, who has expressed his dissatisfaction with the law following court’s decision in annuling his $56 billion pay package from 2018. More information on this can be found in an article published by the Financial Times.
In other news, Cincinnati’s law firm, Keating Muething & Klekamp, with a total strength of 240 employees, has reiterated its commitment to its downtown location. The firm recently renewed its 10-year lease at One East Fourth Street, thereby affirming its presence there. Cincinnati Business Courier covered the news in further detail.
Meanwhile, a recent ABA civic literacy survey brought to light some intriguing findings. Up to 74% of US residents reckon that America’s democratic system is not as robust as it was five years ago. The contributing factors to this are believed to be the increasing dissemination of misinformation and disinformation. Furthermore, it was found that 63% of the interviewees felt that the general public lacks knowledge about the very workings of democracy. The detailed survey can be viewed on the American Bar Association website.
There have also been several new appointments and movements in legal circles. Some of these include Emily Gordy moving to King & Spalding from McGuireWoods, Martin Stratte joining Hunton Andrews Kurth, Gwendolyn Williamson joining Faegre Drinker, Matt Whited switching to Greenberg Traurig from Kirkland & Ellis, and Bob Coffield joining Nelson Mullins Riley & Scarborough from Flaherty Sensabaugh Bonasso PLLC. You can read more about these personnel changes on the Bloomberg Law website.