© Reuters. SUBMIT PHOTO: The logo design for a travel site business TripAdvisor Inc is revealed on a computer system screen in this illustration image in Encinitas, California May 3, 2016. REUTERS/Mike Blake/File Photo
By Jody Godoy
(Reuters) -A Delaware judge stated on Tuesday that TripAdvisor (NASDAQ:-RRB- can proceed with its prepared transfer to Nevada, though investors can likewise pursue their suit declaring the relocation unjustly benefits the online travel recommendations website’s managing investor.
The case has actually gotten attention this month as Tesla (NASDAQ:-RRB- CEO Elon Musk published about it on social networks. Musk has actually stated Tesla would hold an investor vote to move its legal home from Delaware to Texas in the wake of a judgment revoking his $56 billion pay plan.
2 investors took legal action against directors at TripAdvisor and its moms and dad business in 2015. They declared the relocation was developed to benefit Greg Maffei, CEO of moms and dad business Liberty TripAdvisor, at their cost.
The judgment by Delaware Vice Chancellor Travis Laster comes as a committee of Tripadvisor ‘s board checks out a prospective sale to a concealed bidder.