State Delaware Financial News

According to a stock exchange notice on Thursday (22 March), the firm bought close to 0.5% of the trust's shares, as well as an additional 4.57% in equity swaps, crossing the 5% threshold on 19 March. Based on Scottish Mortgage's closing price, Peel Hunt has estimated this represents a substantial exposure to SMT of around £607m.  The Delaware-based investment firm, which is known for its activist shareholder campaigns at companies including GSK and Germany's Fresenius, is led by Paul Singer, recognised for his high-profile, and often combative dealmaking. Trust analysts: Alliance ...

The broker-dealer and RIA platform formerly known as CoastalOne has been adding strength to its leadership team since it rebranded in January.

Byju's $1.2 billion term loan said on Friday that judge John T Dorsey of the United States Bankruptcy Court for the District of Delaware has issued an order prohibiting the edtech firm from transferring or using any of the $533 million in loan proceeds previously held by Camshaft Capital Fund, LP and subsequently transferred to an unnamed, unknown offshore trust. The court, according to the lender statement, also found that company founders Byju Raveendran and Divya Gokulnath are working in concert with Byju's Alpha and ordered them to comply with its ruling.

The largest industrial wood pellet supplier in the world has filed for Chapter 11 bankruptcy

Meghan, the Duchess of Sussex, has returned to Instagram to tease a new brand that records show could feature jams, household items, cookbooks and cutlery

By Marianna Parraga

US Judge Brendan Shannon has granted bankrupt crypto company Terraform Labs permission to hire Dentons for its legal representation, according to a report by Reuters.

Elon Musk, the CEO of Tesla and owner of X (formerly Twitter), has experienced a significant decrease in his wealth this year. According to the Bloomberg Billionaire's Index, Musk's fortune has plummeted by almost 40 billion dollars since the beginning of 2024, bringing his net worth to $189 billion. This decline has pushed him down to the third spot on the list of the world's richest individuals, behind Bernard Arnault of Louis Vuitton and Jeff Bezos of Amazon. Bezos briefly overtook Musk but was later replaced by Arnault. The primary reason for Musk's financial setback is attributed to the decline in Tesla's share price, which has dropped by nearly 29% this year. Additionally, a Delaware court rejected a $55 billion compensation package for Musk, further contributing to his wealth reduction.

one of three bills signed by Democratic Gov. Jay Inslee last year seeking to address gun violence. It requires the industry to exercise reasonable controls in making, selling and marketing weapons, including steps to keep guns from being sold to people known to be dangerous or to straw buyers.

With Rhode Island this week becoming the seventh U.S. state to launch internet gambling, industry panelists at an internet gambling conference say they foresee several additional states joining the fray in the next few years

By Dietrich Knauth

Attorneys for Meta and founder Mark Zuckerberg are seeking dismissal of shareholder lawsuit alleging the company has deliberately failed to protect users of its social media platforms from human trafficking and child sexual exploitation

By Tom Hals

Elon Musk is no longer the world’s richest person. Musk lost his position atop the Bloomberg Billionaires Index to Jeff Bezos after shares in Tesla Inc. tumbled 7.2% on Monday. Musk now has a net worth of $197.7 billion; Bezos’ fortune is $200.3 billion.

The lawyers who successfully argued that a massive pay package for Tesla CEO Elon Musk was illegal and should be voided are asking the presiding judge to award company stock worth $5.6 billion as legal fees

A Delaware judge has declared a mistrial in the latest lawsuit alleging that exposure to the popular weedkiller Roundup causes cancer

Elon Musk's $56 billion compensation as excessive are seeking a record legal fee worth $6 billion, payable in the electric car maker's stock, according to a Friday court filing. «We recognise that the requested fee is unprecedented in terms of absolute size,» said the filing with the Court of Chancery in Delaware by the three law firms. The fee works out to an hourly rate of $288,888, according to the court filing. The fee will be paid by Tesla to attorneys who represented Richard Tornetta, a Tesla shareholder who sued Musk in 2018 over the pay package, which a Delaware judge nixed in January. The electric vehicle maker is being asked to pay the fee because it benefited from the return of Musk's pay package, which the legal team said will result in the return to the carmaker of 266 million shares.

The Wall Street Journal is facing a defamation lawsuit over an article that allegedly falsely accused a Thai-based aviation fuel broker and his company of involvement in illegal activities at stablecoin issuer Tether and crypto exchange Bitfinex. 

Musk’s executive compensation award – the largest ever given to a corporate titan – filed the request Friday in Delaware state court. The attorneys for shareholder Richard Tornetta argued in a court filing they deserve more than 29 million Tesla shares. They explained why they prefer stock to cash.

By Abigail Summerville and Ananya Mariam Rajesh

By Brendan Pierson