rich 1.0 Action Network https://actionnetwork.org <link href='https://actionnetwork.org/css/style-embed-v3.css' rel='stylesheet' type='text/css' /><script src='https://actionnetwork.org/widgets/v6/letter/stop-elon-musks-corporate-law-bill?format=js&source=widget'></script><div id='can-letter-area-stop-elon-musks-corporate-law-bill' style='width: 100%'><!-- this div is the target for our HTML insertion --></div> Delaware Working Families Party and Delaware Working Families Power https://actionnetwork.org/groups/delaware-working-families-party https://can2-prod.s3.amazonaws.com/letters/photos/000/380/057/normal/stopelon.png On Monday, February 17th, Delaware's legislature introduced SB 21, proposing changes to Delaware General Corporation Law that strip stockholders of rights to challenge oligarchs like Elon Musk. Since Monday, several things have become clear: This bill did not go through the typical process of the Corporate Law Council The law was written specifically by the law firm representing Elon Musk, Richards, Layton & Finger The updates to the corporate code could harm a whole scale of non-wealthy investors, from unions to pension funds to mom and pop investors This all came after the governor said, “It’s really important we get it right for Elon Musk or whoever the litigants are in Delaware courts." We can not let this law pass in its current form. While we support protecting Delaware's franchise, we are worried that this law will have the opposite effect, undermining the legitimacy of the Chancery Court while scaring off the corporations that don't have big billionaire controllers like Elon Musk. Nearly half our budget comes directly or indirectly from the franchise, and we can't jeopardize that by passing this law. Let your legislators know that they need to vote NO on SB 21. https://actionnetwork.org/letters/stop-elon-musks-corporate-law-bill