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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April 21, 2023, 6:04 PM