Computer Memories' shareholders, as expected, have approved a proposal to reincorporate in Delaware.
The company plans to take advantage of Delaware's 5-month-old law allowing companies to eliminate directors' liability for negligence. Computer Memories, which previously was incorporated under California law, employs all of its staff in Chatsworth.
The company was established as a manufacturer of computer disk drives but pulled out of the business this year and began liquidating assets. Industry experts regard Computer Memories as an acquisition candidate because of the tax benefits it could provide a buyer under certain circumstances.