OPINION
$3 Trillion in Corporations Walk Out the Door as Delaware’s Chancery Court Judiciary “Most Corrupt in the Nation” Reputation Takes Its Toll
Dear Friends,
Folks, I’ve been screaming about this for four years!
People are finally figuring out this scam that latte liberals of the Chancery Court have been ensnaring business in since the TransPerfect days.
Now, $3 trillion has walked out the door of America’s First State, and constitutional scholar Alan Dershowitz has called our judiciary, “the most corrupt in the nation.” The Newsmax article below says that, since 2024, 60 companies have left, including two large public companies that have recently announced plans.
When Delaware legal decisions don’t make any sense, one need only follow the money to an elite cabal of Wilmington Law firms. Yes, in my view, these attorneys are Delaware’s public enemy #1, Kevin Shannon of Potter Anderson; Jennifer Voss and Bob Pincus of Skadden; Andre Bouchard and Stephen Lamb of Paul Weiss. The Coastal Network has been reporting on your little unholy network for years, and now the business world is catching on.
The revolving door of ethically compromised lawyers and judges (yes you Chancellor McCormick) is costing Delaware BIG TIME! I have been throwing up flares since the day Leo Strine, I only wish our elected leaders would have taken action sooner.
Please do not believe mainstream Delaware media trying to paint Elon Musk and TransPerfect as sore losers, they are victims of a corrupt few who, where left with unchecked power to collude and scheme, enriched themselves, and destroyed Delaware’s image in the process.
See the Newsmax story below… Shocking. But not readers of the Coastal Network.
Respectfully Yours,
JUDSON Bennett–Coastal Network
https://www.newsmax.com/newsfront/delaware-texas-incorporation/2026/04/14/id/1252942/
Newsmax
Delaware Loses Over $3 Trillion as Companies Flee to Texas, Other States
A tsunami of corporate departures continues to hit Delaware as more than 60 public companies with a combined market cap of over $3 trillion have quit the state in the past two years alone.
In just the past week, two significant public companies with a market cap of close to $15 billion — FirstCash Holdings and GPGI Inc. — have announced plans to leave
Delaware, underscoring what many analysts now describe as a corporate exodus.
These announcements are part of a much larger trend as companies may capsize the tiny, ultra-liberal state that had been known for proudly backing its senator Joe Biden for president, and declared itself among the biggest proponents of diversity, equity, and inclusion programs.
Among those leaving are some of the most recognizable names in corporate America, including Tesla, SpaceX, Coinbase, Roblox, Dropbox, Dillard’s, and Simon Property Group.
Perhaps most telling is not just the companies leaving Delaware, but those choosing to bypass it altogether.
In March, Exxon Mobil — one of the largest publicly traded companies in the world, with a market cap of more than $600 billion — announced plans to move its incorporation from New Jersey to Texas, snubbing Delaware.
For over a century, Delaware has been the preferred home for corporations.
But that reputation is now history.
Corporate leaders increasingly argue that Delaware’s legal environment has become unpredictable, with courts seemingly controlled by major trial firms that donate heavily to the Democrats’ local political machine.
With big money at work Delaware’s judges no longer see the law as black and white.
Harvard professor emeritus Alan Dershowitz has called the state’s judiciary “one of the most corrupt in the nation.”
Critics have noted the court’s inconsistent rulings and huge payouts for trial firms that bring often frivolous shareholder suits.