Delaware
Elon Musk moves Neuralink from Delaware to Nevada
Elon Musk’s company Neuralink, which works on brain implants, moved its official business location from Delaware to Nevada. This change comes after Musk faced legal issues in Delaware, including problems related to pay and his purchase of Twitter.
The move comes after Musk’s tweet in January that no company should incorporate in Delaware. “Never incorporate your company in the state of Delaware,” he wrote.
Musk’s comment was followed by the Delaware Court of Chancery’s Judge Kathaleen McCormick’s remark on the Tesla CEO’s $56-billion salary. Judge McCormick termed called it “an unfathomable sum”.
Neuralink is not the first Elon Musk company that has been reincorporated outside of Delaware. The richest man in the world earlier moved the incorporation of X from Delaware to Nevada when he renamed the company from Twitter. Nevada’s business laws give company leaders stronger protection from lawsuits by investors.
The shift Delaware to Nevada was completed on February 8, according to the office of the Nevada secretary of state and a notice sent to shareholders in the company.
The notice sent to shareholders, which was reviewed by Bloomberg, informed them that their outstanding shares in the Delaware corporation would now be incorporated into outstanding shares in the Nevada corporation.
Neuralink lawyer Philip Mao declined to comment to Bloomberg.
Last week, Musk announced on Twitter that his company Neuralink had put a device into a human for the first time. This device is designed to let people with serious injuries use computers just by thinking. Musk believes that, in the future, the device will allow anyone to control phones, computers and many other devices simply by thinking.
Delaware: Incorporation capital of US
Delaware is famous for being the main location for many companies to officially set up. Over 70% of Fortune 500 companies in the US are registered in the state because Delaware’s courts are quick and the judges know a lot about business law. They handle big business deals and disagreements without a jury. Companies from other countries also go to Delaware for solving their business problems.
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Published: 10 Feb 2024, 06:47 AM IST
Police in Wilmington, Delaware, shot and killed a 19-year-old man Wednesday night.
The incident happened in a residential area near 24th and Jessup streets just after 11 p.m., Wilmington police said in a news release. The person who was shot has not been publicly identified.
Officers were monitoring a large crowd gathered outside when they saw a man exit a home with a handgun and point it toward the crowd, police say.
When officers approached the man, he ran away and a foot pursuit began, police say.
At some point in the chase, an officer fired their weapon and hit the 19-year-old. The man was taken to a local hospital, where he later died.
Police say they recovered a loaded gun from the man and that the officer was not injured.
Video filmed at the scene shows a crowd of residents gathered outside after the shooting.
Police are asking anyone with more information to come forward. The shooting is under investigation by the Delaware Department of Justice and Wilmington police.
Delaware Supreme Court Justice Karen L. Valihura announced Wednesday that she will lead a new corporate law institute at the Wilmington University Farnan School of Law.
She will step down from the bench of Delaware’s highest court in late July, after choosing not to seek reappointment at the end of her 12-year term. She revealed her plans for the next phase of her legal career in a special session of the court in Wilmington.
As well as joining the Wilmington University law school faculty, Valihura will be the founding director of the school’s new Corporate Law, Governance and Practice Institute. …
Wilmington Police are investigating the fatal shooting of a 16-year-old boy Tuesday night in Wilmington’s Hilltop neighborhood.
According to police, the shooting occurred at approximately 8:33 p.m. in the 1600 block of West 5th Street.
On their arrival at the scene, police say they located the 16-year-old with at least one gunshot wound and transported him to a local hospital, where he later died from his injuries.
This incident remains under investigation.
Police did not share whether there have been any arrests in connection with the shooting or a possible motive.
Wilmington Police encourage anyone with information about this incident, contact Detective Justin Wilkers at (302) 576-3634. Information can also be sent to Delaware Crime Stoppers at 1-800-TIP-3333, or Delawarecrimestoppers.com.
The Wilmington Police Department (WPD) Victim Service Unit and Youth Response Unit are available to provide information and support to victims, children, and families affected by this incident.
The Victim Service Unit can be reached at (302) 576-3622, and the Youth Response Unit can be reached at (302) 576-3183.
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