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A new study found that courts in the state, where many big companies reside, often cleared big payouts to lawyers. It may further embolden the state’s critics.

Andrew Kelly/Reuters

Andrew here. To kick off the week, I’ve been digging into a new study quietly making its rounds in corporate boardrooms. The analysis suggests Delaware’s judiciary has created a veritable fee machine for lawyers, raising pointed questions about the state’s long-held status as the preferred incorporation haven.

Meanwhile, investors are focused on new comments from the White House and China on the tariff battle. And my colleague Danielle Kaye has uncovered some truly counterintuitive implications within a provision in Republicans’ budget bill that limits states’ ability to regulate A.I. — with far-reaching consequences.

What are Delaware judges doing?

Delaware’s decades-long pitch to corporate America is simple: It offers

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