Sectors
Foley & Lardner LLP partner Christopher Babcock and of counsel John Sepehri are featured for their perspective on the accelerating growth of ‘Y’all Street’ in The Texas Tribune article, “Legislators, business leaders highlight Texas policies driving competition with Wall Street.”
Joining a panel discussion hosted by The Texas Tribune alongside other business leaders and state legislators, Babcock said the current moment of Y’all Street reflects over a decade of collaboration between business leaders and bipartisan legislators to make Texas more business friendly.
“Historically, people looked to Delaware as a place that had built up a body of law developed over many years and felt like it was a place where there was a lot of knowledge about business disputes,” Sepheri said of Texas’ corporate rise. “But in recent years, there’s been a change in the political culture there, and that has enabled activist shareholders and judges to really second guess the decisions of management, and not always in a way that is productive.”
Following a recent dismissal of a shareholder derivative lawsuit in Texas, marking an early and important validation of the changes to the Texas Business Organizations Code introduced in 2025 by Texas Senate Bill 29, Babcock said ExxonMobil’s May 27 shareholder vote to incorporate in Texas will represent a pivotal point for the state to demonstrate how the changes benefit shareholders as well.
Babcock’s and Sepehri’s commentary also appeared in KSAT.
