Corporate Law Overhaul Heads to Lawmakers After Passing Bar (1)

A hotly contested corporate law overhaul will get its first legislative hearing Wednesday, a day after a Delaware bar committee expected to back the bill instead took no position.

The measure would lower the legal guardrails around insider deals, restrict shareholder access to the texts and emails of company leaders, and strengthen a presumption that board members are independent of one another. The changes are aimed at placating controlling stockholders like Elon Musk—who has slammed the court system that cost him his $56 billion pay package—after news of several corporate departures raised concerns about a “DExit” wave. ...