TripAdvisor Can Reincorporate in Nevada, Delaware Judge Says
- Court says company’s board can still be sued over move though
- TripAdvisor’s proposed move was put in spotlight by Elon Musk
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TripAdvisor Inc. can move its incorporation to Nevada from Delaware, a judge ruled, though the company will still have to face a shareholder lawsuit over a shift similar to that now being contemplated by Elon Musk for Tesla Inc.
Delaware Chancery Court Judge J. Travis Laster denied the travel review and booking site’s motion to dismiss a lawsuit challenging the move as unfair to shareholders but declined to block the move, saying a “monetary award could be crafted” if the court rules against TripAdvisor.