Business woman jigsaw puzzle Shareholder Suit Alleges TripAdvisor Directors Unlawfully Tried to Convert Company Into Nevada Corporation
This suit was surfaced by Law.com Radar. Read the complaint here.
April 24, 2023 at 11:26 AM
1 minute read
TripAdvisor, Chairman Gregory Maffei and other defendants were slapped with a shareholder derivative lawsuit on April 21 in Delaware Court of Chancery. The suit, brought by Bernstein Litowitz Berger & Grossman, Block & Leviton, Friedman Oster & Tejtel and Kaskela Law on behalf of Dennis Palkon and Herbert Williamson, accuses Maffei and other directors of attempting to unlawfully convert TripAdvisor from a Delaware corporation into a Nevada corporation. According to the complaint, the Nevada legislature has recently amended the state's corporate code to create a 'no-liability corporate safe haven' for businesses. Counsel have not yet appeared for the defendants. The case is 2023-0449-, Palkon et al. v. Maffei et al.
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