The Delaware Supreme Court upheld the constitutionality of an Elon Musk-inspired overhaul of state law that governs most major US corporations, handing a win to company founders, insiders and private equity owners who sought less restrictive business rules.
In a ruling Friday, the court concluded that controversial changes to the law had complied with the state’s constitution and didn’t strip power from the nation’s premier business court to grant relief if companies breach their fiduciary duty.
