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Benjamin P. Edwards

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Benjamin Edwards joined the faculty of the William S. Boyd School of Law in 2017. He researches and writes about business and securities law, corporate governance, arbitration, and consumer protection.

Prior to teaching, Professor Edwards practiced as a securities litigator in the New York office of Skadden, Arps, Slate, Meagher & Flom LLP. At Skadden, he represented clients in complex civil litigation, including securities class actions arising out of the Madoff Ponzi scheme and litigation arising out of the 2008 financial crisis. Read More

Corporate & Securities Litigation Workshop

Call for Papers

The University of Illinois College of Law, in partnership with the University of Richmond School of Law, UCLA School of Law, and Vanderbilt Law School, invites submissions for the Thirteenth Annual Corporate & Securities Litigation Workshop. This workshop will be held on Thursday, October 22 and the morning of Friday, October 23, 2026 in Chicago, Illinois.

Overview
This annual workshop brings together scholars focused on corporate and securities litigation to present their scholarly works. Papers addressing any aspect of corporate and securities litigation or enforcement are eligible, including securities class actions, fiduciary duty litigation, and SEC enforcement actions. We welcome scholars working in a variety of methodologies, as well as both completed papers and works-in-progress. Authors whose papers are selected will be invited to present their work at a workshop hosted by the University of Illinois College of Law. Participants will pay for their own travel, lodging, and other expenses.

Submissions
If you are interested in participating, please send the paper you would like to present, or an abstract of the paper, to corpandsecworkshop@gmail.com by Friday, June 12, 2026. Please include your name, current position, and contact information in the e-mail accompanying…

With proxy season getting underway, I’m sharing the updated list since my post about this in March. We have another 6 companies added to the list since March 23, a rate of about two companies a week. Five announced departure plans were from Delaware and one from Ireland. In terms of destinations, four companies announced for Texas with two announcing for Nevada.

Company NameStock TickerOrigination StateDestination State
1. TruGolfTRUGDelawareNevada
2. Forian, Inc.FORADelawareMaryland
3. LQR HouseYHCNevadaDelaware
4. CBAK EnergyCBATNevadaCayman Islands
5. Cheetah NetCTNTNorth CarolinaDelaware
6. GalectoGLTODelawareCayman Islands
7. Resolute Holdings Management, Inc.RHLDDelawareNevada
8. Forward Industries, INCFWDINew YorkTexas
9. EQV Ventures AcquisitionFTWCayman IslandsDelaware
10. Datadog, Inc.DDOGDelawareNevada
11. Haymaker Acquisition Corp 4HYACCayman IslandsDelaware
12. CDT EquityCDTDelawareCayman Islands
13. eXp World HoldingsEXPIDelawareTexas
14. ArcBest CorpARCBDelawareTexas
15. Texas Capital BancsharesTCBIDelawareTexas
16. ExxonMobil Corp.XOMNew JerseyTexas
17. NL IndustriesNLNew JerseyDelaware
18. ClearOne IncCLRODelawareNevada
19. Liberty Media CorporationFWONA, FWONB,
…

Save the date! The annual Corporate & Securities Litigation Workshop will take place on October 22 and 23 in Chicago, hosted by the University of Illinois College of Law.

A call for papers will be coming soon, but please mark your calendars now!

This annual workshop brings together scholars who address any aspect of corporate and securities litigation or enforcement, including securities class actions, fiduciary duty litigation, and SEC enforcement actions. We welcome scholars working in a variety of methodologies, as well as both completed papers and works-in-progress. 

Thanks to Verity Winship for sending this my way to get out. I’ll also post the call for papers when it comes out.

Picking back up after February’s post, I’ve got an updated list looking at movement between states so far this year in preparation for a panel at KPMG’s Board Leadership Conference this week. This list has grown with another five companies announcing attempts to shift their incorporation jurisdiction since the last update. Some thoughts on the announced moves after the list as well, infographics, and quick note about my new Senior Of Counsel role.

Company NameStock TickerOrigination StateDestination State
1. TruGolfTRUGDelawareNevada
2. Forian, Inc.FORADelawareMaryland
3. LQR HouseYHCNevadaDelaware
4. CBAK EnergyCBATNevadaCayman Islands
5. Cheetah NetCTNTNorth CarolinaDelaware
6. GalectoGLTODelawareCayman Islands
7. Resolute Holdings Management, Inc.RHLDDelawareNevada
8. Forward Industries, INCFWDINew YorkTexas
9. EQV Ventures AcquisitionFTWCayman IslandsDelaware
10. Datadog, Inc.DDOGDelawareNevada
11. Haymaker Acquisition Corp 4HYACCayman IslandsDelaware
12. CDT EquityCDTDelawareCayman Islands
13. eXp World HoldingsEXPIDelawareTexas
14. ArcBest CorpARCBDelawareTexas
15. Texas Capital BancsharesTCBIDelawareTexas
16. ExxonMobil Corp.XOMNew JerseyTexas
17. NL IndustriesNLNew JerseyDelaware
18.
…

Following up on January’s post on this topic, we have some updates. This is the list I’ve compiled so far.

Announced Moves as of February 26

Company NameStock TickerOrigination StateDestination State
TruGolfTRUGDelawareNevada
Forian, Inc.FORADelawareMaryland
LQR HouseYHCNevadaDelaware
CBAK EnergyCBATNevadaCayman Islands
Cheetah NetCTNTNorth CarolinaDelaware
GalectoGLTODelawareCayman Islands
Resolute Holdings Management, Inc.RHLDDelawareNevada
Forward Industries, INCFWDINew YorkTexas
EQV Ventures AcquisitionFTWCayman IslandsDelaware
Datadog, Inc.DDOGDelawareNevada
Haymaker Acquisition Corp 4HYACCayman IslandsDelaware
CDT EquityCDTDelawareCayman Islands
eXp World HoldingsEXPIDelawareTexas
ArcBest CorpARCBDelawareTexas

We’ve got an additional seven entries since the last update with some multi-billion dollar companies announcing for Texas now, including ArcBest which came out today.

To make this easier to understand, I’ve recruited a couple of Research Assistants to help with data visualizations, so many thanks to Ethan Viator and Hunter Hawkins for helping pull these together. You can see my full data here with some notes for follow up from our two brave research assistants. I’ve also added a column to track disclosed…

Last week, I flew out to NYC for a quick turnaround trip and a PLI panel about Reincorporations and Redomestications. It was a part of a two-day program on Mergers & Acquisitions 2026: Advanced Trends and Developments.

Our panel featured Steve Haas from Hunton , Charlotte Newell from Sidley, and Robert Rosenberg from Houlihan Lokey. You can access the panel from PLI’s website.

Both Hunton and Sidley have put out interesting things on corporate law issues that have been on my radar. Charlotte has covered Delaware litigation and has expertise on the current state of play there as Delaware lawyer. Steve recently drafted an article for the American Bar Association: Delaware Supreme Court Establishes Test for Reviewing Reincorporation Decisions.

Although I can’t speak for the other panelists here, I think we all expect that Delaware will remain king of the hill by a substantial margin. There have been some shifts and some companies moving, but Delaware will continue to grow both in terms of overall numbers from private entity formation, public company IPOs, and public companies deciding to move to Delaware from other jurisdictions. Delaware’s overall numbers depend on both DExits and DEntries. Companies sometimes shift their incorporation…

1.  Except as otherwise provided in subsection 2 and the articles of incorporation, a board of directors may authorize and the corporation may make distributions to the holders of any class or series of the capital stock of the corporation, including distributions on shares that are partially paid.

      2.  No distribution may be made if, after giving it effect:

      (a) The corporation would not be able to pay its debts as they become due in the usual course of business; or

      (b) Except

…

Registration is open for the Spring 2026 series of the Law & Finance (Virtual) Workshop. Please use this form to register.

The Law & Finance Workshop was launched in Spring 2025 by scholars at the University of Miami School of Law to create a space for more frequent discussion of scholarly works-in-progress in the field of law and finance, and to foster community among scholars working in this area. Workshops take place on Fridays from 1pm to 2pm eastern time. Registered participants will receive the draft paper and zoom link one week before each workshop. All interested scholars and practitioners are welcome to participate. 

Nikita Aggarwal, Caroline Bradley, & George Georgiev

(Organizing Committee, 2025-26)

Spring 2026 Workshops (all at 1pm ET) 

Friday, January 30: Mitu Gulati (UVA), Ugo Panizza (Graduate Institute), & Mark Weidemaier (UNC), presenting “Cambodia’s “Dirty” Debts.” 

– John Hurley (former U.S. Treasury) discussing.

Friday, February 13: Natalya Shnitser (Boston College) presenting “Shadow Shareholders.” 

– Jeff Schwartz (Utah) discussing.  

Friday, March 20: Dolan Bortner (Stanford) presenting “Private Inequity: Business Law Solutions for Better PE Healthcare.” 

– Summer Kim (UC Irvine) discussing.

Friday, April 10: Itai Fiegenbaum (St. Thomas) presenting “Hiding in Plain Sight: A Counter-Narrative…