Is There A Fiduciary Duty To Consider Leaving California?

Last month,, 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.