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Lowenstein Sandler LLP

Delaware’s New Universal Demand-Futility Test

Lowenstein Sandler LLP on

On Sept. 23, the Delaware Supreme Court endorsed a new universal three-part demand-futility test in United Food and Commercial Workers Union and Participating Food Industry Employers Tri-State Pension Fund v. Zuckerberg, et...more

Morris James LLP

Chancery Denies Section 220 Bid for Executive Compensation Records Involving Facebook

Morris James LLP on

Southeastern Pa. Trans. Auth. v. Facebook, Inc., C.A. No. 2019-0228-JRS (Oct. 29, 2019) - Shareholders of a Delaware corporation have a qualified right to access corporate books and records for a “proper purpose.” ...more

Wilson Sonsini Goodrich & Rosati

Delaware Court of Chancery Issues Noteworthy Decision Denying Section 220 Demand and Reinforcing Judicial Deference on Executive...

The Delaware Court of Chancery recently denied two books and records demands made by stockholders of Facebook, Inc. that sought to investigate alleged wrongdoing surrounding Facebook's executive compensation practices at a...more

Snell & Wilmer

Consider Adding Separate Annual Sublimit on Director Equity Awards

Snell & Wilmer on

In response to the Delaware Chancery Court’s 2012 and 2015 decisions in Seinfeld v. Slager and Calma v. Templeton and Facebook’s 2016 settlement of Espinoza v. Zuckerberg, public companies that are adopting or amending...more

Allen Matkins

Chancellor Bouchard Rules There Can Be No Ratification Without Works

Allen Matkins on

In reading Chancellor Andre G. Bouchard’s ruling yesterday in Espinoza v. Zuckerberg, 2015 Del. Ch. LEXIS 273 (Del. Ch. 2015), I was reminded of the theological debate among Christians concerning justification by faith.  The...more

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