Andrew Cordo

Wilson Sonsini Goodrich & Rosati

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Delaware Court of Chancery Issues Important Ruling for Multi-Class Companies Addressing Class Votes

Earlier today, Vice Chancellor J. Travis Laster of the Delaware Court of Chancery issued an important ruling concluding that two companies with multiple classes of common stock were not required, under the Delaware statute,...more

3/30/2023 / Board of Directors , Corporate Governance , Corporate Officers , Delaware General Corporation Law , Shareholder Litigation , Shareholder Rights , Shareholders , Voting Rights

Delaware Supreme Court Eliminates Gentile Dual Natured Claims

On September 20, 2021, the Delaware Supreme Court overruled its 2006 decision in Gentile v. Rossette, eliminating so-called "dual natured" simultaneous direct and derivative claims for breach of fiduciary duty. The decision...more

9/24/2021 / Board of Directors , C-Suite Executives , Controlling Stockholders , Corporate Governance , Corporate Officers , DE Supreme Court , Fiduciary Duty , Shareholder Litigation

Delaware Supreme Court Enforces Waiver of Statutory Appraisal Rights

Earlier this week, the Delaware Supreme Court issued a significant decision reinforcing Delaware's strong policy favoring private ordering and giving effect to agreements among sophisticated stockholders. The decision...more

9/17/2021 / Appraisal Rights , Board of Directors , Controlling Stockholders , Corporate Governance , Corporate Officers , DE Supreme Court , Delaware General Corporation Law , Directors , Fiduciary Duty , Shareholder Litigation

Chancellor McCormick Provides Helpful Guidance on Pre-Suit Litigation Demands Under Delaware Law

Last month, Delaware's new Chancellor Kathaleen S. McCormick issued a decision largely dismissing challenges to board action after finding that the plaintiff's emails to the board constituted pre-suit litigation demands, and...more

7/7/2021 / Board of Directors , Corporate Counsel , Corporate Governance , Derivative Complaint , Derivative Suit , Derivatives , Pre-Suit Notice , Shareholder Litigation , Shareholders

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