John Stigi III

John Stigi III

Sheppard Mullin Richter & Hampton LLP

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Delaware Supreme Court Affirms the Use of Stockholders Agreements to Waive Appraisal Rights

In Manti Holdings, LLC v. Authentix Acquisition Co., Inc., No. 354, 2020, 2021 WL 4165159 (Del. Sept. 13, 2021), the Delaware Supreme Court issued an important opinion affirming the use of stockholders agreements by and among...more

9/29/2021  /  Appraisal , Appraisal Rights , Bylaws , Corporate Counsel , DE Supreme Court , Delaware General Corporation Law , Section 262 , Shareholder Litigation , Stockholder Agreements

Delaware Supreme Court Confirms That Federal Forum Provision Is Facially Valid, Reversing Court of Chancery

In Sciabacucchi v. Salzberg, No. 346, 2019, 2020 WL 1280785 (Del. Mar. 18, 2020), the Delaware Supreme Court reversed a Delaware Court of Chancery (Laster, V.C.) decision declaring invalid a federal forum selection provision...more

3/23/2020  /  Bylaws , Charter , Delaware General Corporation Law , Forum Selection , Investors , Jurisdiction , Securities Act of 1933 , Securities Litigation

California Court of Appeal Enforces Delaware Forum Selection Bylaw

In Drulias v. 1st Century Bancshares, Inc., No. H045049, 2018 WL 6735137 (Cal. App. Dec. 21, 2018), the California Court of Appeal, Sixth Appellate District, affirmed an order staying a stockholder lawsuit brought in the...more

1/28/2019  /  Appeals , Board of Directors , Breach of Duty , Bylaws , Cal Code of Civil Procedure , Common Stock , Corporations Code , Enforcement , Fiduciary Duty , Foreign Corporations , Forum Non Conveniens , Forum Selection , Internal Affairs Doctrine , Jurisdiction , Mergers , Motion To Stay , Putative Class Actions , Retroactive Application , Securities Litigation , Statutory Rights

Delaware Court of Chancery Declares Ineffective Exclusive Federal Forum Provision for 1933 Act Claims

In Sciabacucchi v. Salzberg, C.A. No. 2017-0931-JTL, 2018 WL 6719718 (Del. Ch. Dec. 19, 2018), the Delaware Court of Chancery (Laster, V.C.) held that a forum-selection provision in a Delaware corporation’s charter or bylaws...more

1/15/2019  /  Bylaws , Certificates of Incorporation , Delaware General Corporation Law , Forum Non Conveniens , Forum Selection , Initial Public Offering (IPO) , Investors , Publicly-Traded Companies , Securities Act of 1933 , Securities Litigation

Delaware Court of Chancery Rejects Bylaw That Required Supermajority Stockholder Vote to Remove Directors in Violation of 8 Del....

In Frechter v. Zier, C.A. No. 12038-VCG, 2017 WL 345142 (Del. Ch. Jan. 24, 2017) (Glasscock, V.C.), the Delaware Court of Chancery granted plaintiff’s motion for summary judgment on a declaratory relief claim and held that 8...more

2/7/2017  /  Breach of Duty , Bylaws , Declaratory Relief , Delaware General Corporation Law , Director Removal , Duty of Loyalty , Majority Shareholders , Majority Voting Policies , Summary Judgment

Delaware Supreme Court Reinforces Importance of Clear and Precise Bylaw Provisions and Specifically Drafted Notices of Annual...

In Hill International, Inc. v. Opportunity Partners L.P., No. 305, 2015, 2015 WL 4035069 (Del. July 2, 2015), the Delaware Supreme Court affirmed the Court of Chancery’s grant of injunctive relief as it recognized the...more

7/24/2015  /  Annual Meeting , Bylaws , Contract Interpretation , DE Supreme Court , Injunctive Relief , Notice Requirements , Securities and Exchange Commission (SEC) , Shareholder Meetings , Shareholder Proposals , Shareholders

Delaware Supreme Court Reinforces Importance of Clear and Precise Bylaw Provisions and Specifically Drafted Notices of Annual...

In Hill International, Inc. v. Opportunity Partners L.P., No. 305, 2015, 2015 WL 4035069 (Del. July 2, 2015), the Delaware Supreme Court affirmed the Court of Chancery’s grant of injunctive relief as it recognized the...more

7/23/2015  /  Annual Meeting , Bylaws , Contract Interpretation , Corporate Governance , Injunctive Relief , Notice Requirements , Public Disclosure , Securities and Exchange Commission (SEC) , Shareholder Meetings , Shareholders

California and Delaware Courts Agree: Amendments to Corporate Bylaws Do Not Apply Retroactively to Impair Pursuit Previously...

Two recent decisions, one from the Delaware Court of Chancery and one from the California Court of Appeal, Fourth Appellate District, refused to apply bylaws that impaired a shareholder/member plaintiff’s ability to pursue...more

4/1/2015  /  Appeals , Bylaws , Corporations Code , Retroactive Application , Shareholder Litigation , Shareholders

Delaware Court of Chancery Upheld Enforceability of Bylaws with Forum Selection Clauses Unilaterally Adopted by Board of Directors

In Boilermakers Local 154 Retirement Fund v. Chevron Corp., C.A. No. 7220-CD, 2013 WL 3191981 (Del. Ch. June 25, 2013), the Delaware Court of Chancery dismissed facial challenges to the validity of corporate bylaws that...more

7/17/2013  /  Board of Directors , Bylaws , Corporate Governance , Forum Selection
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