{
"type": "rich",
"version": "1.0",
"provider_name": "Action Network",
"provider_url": "https://actionnetwork.org",
"html": "",
"author_name": "Americans for Financial Reform",
"author_url": "https://actionnetwork.org/groups/afr-advocacy-fund-c4",
"title": "Stop The Billionaires’ Bill. Tell lawmakers to reject Senate Bill 21 now!",
"thumbnail_url": "https://can2-prod.s3.amazonaws.com/share_options/facebook_images/000/533/502/original/AFR_Elon_Musk.jpg",
"description": "For over a century, Delaware has had a reputation for setting a fair and balanced standard for corporate law, ensuring transparency, protecting stockholders, and holding corporate leaders accountable. Now, Senate Bill 21 (also called the "Billionaires’ Bill") threatens to upend that system by drastically limiting the ability of investors, including union pension funds and 401Ks, to hold CEOs and other corporate insiders accountable for acting on their worst impulses and lining their pockets with public investor money. The bill would: Restrict investor access to critical internal corporate records, making it nearly impossible to investigate and uncover misconduct. Shield CEOs, directors, and controlling shareholders from accountability for acting in their own self-interest at the expense of their investors. Overturn decades of law allowing investors to sue CEOs, directors and controllers for transferring value from pension funds and other investors into their own pockets. These provisions would have disastrous consequences for pension funds, institutional investors, 401Ks, and the millions of normal Americans who rely on investments for retirement security. Elon Musk’s lawyers wrote the 'Billionaires' Bill" designed to benefit billionaire CEOs at the expense of pension funds and everyday investors in response to Musk’s failed $56 billion Tesla pay package. This blatant power grab would allow CEOs and controllers to transfer massive value from public investors and pension funds into their own pockets and allow powerful executives and controlling shareholders to operate with near-total impunity without meaningful judicial oversight, while overturning dozens of Delaware Supreme Court precedents. The bottom line is the Billionaires' Bill would transfer billions in wealth from hardworking, everyday people to CEOs and billionaires by eliminating investor protections that ensure transparency and fairness. Click 'START WRITING' to sign and send a direct message to your Delaware State Legislators urging them to reject the Billionaires' Bill and vote NO on SB 21 now.",
"url": "https://actionnetwork.org/letters/stop-the-billionaires-bill"
}