Is There A Fiduciary Duty To Consider Leaving California?

Allen Matkins
Contact

Allen Matkins

Last month, C3.ai, Inc., an enterprise AI software company, closed its initial public offering with net proceeds to the Company of over $600 million.   On the day of the IPO, the company's Chief Executive Officer, Tom Siebel, shared these less than golden observations about the Golden State to a writer for the Silicon Valley Business Journal:

"I think every responsible chief executive officer has to consider moving their company out of California," Siebel told the Business Journal. "If you're not considering that, you're not fulfilling your job for your shareholders and your employees."

The recent relocations of Palantir Technologies Inc., Oracle Corporation, Hewlett Packard Enterprise Company and Tanium Inc. demonstrate that some CEOs have already considered the question.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Allen Matkins | Attorney Advertising

Written by:

Allen Matkins
Contact
more
less

PUBLISH YOUR CONTENT ON JD SUPRA NOW

  • Increased visibility
  • Actionable analytics
  • Ongoing guidance

Allen Matkins on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide