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Market Chatter: Meta's Potential Exit From Delaware Prompts Proposed Corporate Law Update
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Market Chatter: Meta's Potential Exit From Delaware Prompts Proposed Corporate Law Update
Mar 19, 2025 6:28 AM

09:02 AM EDT, 03/19/2025 (MT Newswires) -- Meta Platforms' ( META ) reported plan to relocate from Delaware prompted Governor Matt Meyer to call for special weekend meetings with lawmakers and lawyers, CNBC reported Wednesday, citing public records.

About two weeks after the meetings, Delaware lawmakers were asked to vote on Senate Bill 21, which proposes to amend the state's corporate law to favor controlling shareholders of large companies, according to the report.

The state Senate passed an amended version of the bill last week, while the House of Representatives is expected to vote on the bill Thursday, CNBC said.

Approval of the bill could ease legal concerns for Meta, which has faced "books and records" investigations in Delaware in recent months, CNBC said, citing two people directly involved in the matter.

Meta did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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