Tripadvisor gives Nevada top rating, will move legal home to state

Tripadvisor Inc. can move its incorporation to Nevada, a Delaware judge ruled Tuesday, in the latest example of billionaires moving their companies’ legal homes to the state.

Chancery Court Judge J. Travis Laster declined to block the online review and booking agency’s move to the west but will still allow investors to continue their lawsuit because monetary damages could be warranted.

In the suit first filed in November 2023, minority shareholders argued reincorporation in Nevada would be unfair because there are fewer litigation rights for them and greater rights for company representatives like directors, such as chairman Greg Maffei. (Maffei is also CEO of Liberty Media, owners of Formula One.)

Adam Chodorow, a tax law professor at Arizona State University, said the case questioned whether moving to Nevada stripped investors of some of the rights they had in Delaware, where nearly 70 percent of Fortune 500 companies are legally domiciled.

“The question in that case…