An old thread, but the discussion covers a bit on how Delaware actually has extremely pro-shareholder laws relative to other states, including requiring disclosure of the cap table.

If we want to also talk about misleading, I think choosing a subset of the reasons that businesses choose to incorporate in Delaware and selling them as the sole or even primary reasons is pretty misleading. If you even do a short Google search on why companies incorporate in Delaware, you'll find that one of the top cited reasons boils down to predictability. Because Delaware has been the place companies incorporated for so long, it has a long and established set of case law and precedent, which brings of stability that states with fewer corporations will need to build over time. Add in feedback loop contributions, such as the amount of lawyers who have studied and are experienced in the state's corporate law, and the choice continues to make more sense even without the factors the author listed.