Delaware's Legal Framework Has Become Too Unpredictable, Coinbase Legal Chief Says — Market Talk
Coinbase is leaving Delaware to reincorporate in Texas because Delaware's legal framework for businesses has become too inconsistent, says the company's chief legal officer Paul Grewal in a WSJ opinion piece. "Delaware's Chancery Court in recent years has been rife with unpredictable outcomes," Grewal writes, adding that efforts by the Delaware legislature to fix inconsistent outcomes aren't an efficient or sustainable solution. "Texas offers efficiency and predictability, in part thanks to recent corporate-law reforms that enhance governance flexibility and legal predictability," Grewal says. ([email protected])