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Delaware Supreme Court Raises the Bar on Plaintiffs’ Firms Extracting Fees for Challenges to Advance Notice Bylaws

The Delaware Supreme Court on July 11 partially reversed the Delaware Court of Chancery decision in Kellner v. AIM ImmunoTech, which had held that certain advance notice bylaw provisions were “facially invalid,” holding...more

Plaintiffs’ Firms Are Once Again Targeting Advance Notice Bylaws

Stockholder plaintiffs’ law firms have recently filed several virtually identical complaints in the Delaware Court of Chancery challenging often used public company advance notice bylaws as facially invalid. Against this...more

Delaware Court of Chancery Agrees with SLC, Dismisses $1 Billion Suit Against Carvana

In the case of Carvana Co. Stockholders Litigation, the Delaware Court of Chancery followed the special litigation committee’s (SLC’s) recommendation and dismissed a stockholder complaint alleging that the company’s...more

Plaintiffs’ Firms Extracting Fees Based on Newly Invalidated Advance Notice Bylaw Provisions

In Kellner v. AIM ImmunoTech, the Delaware Court of Chancery held that certain advance notice bylaw provisions were invalid. While the decision engages in a fact-specific analysis of many aspects of AIM ImmunoTech’s advance...more

Delaware Corporation’s Nevada Move Subject to Entire Fairness

In the case of TripAdvisor Inc., the Delaware Court of Chancery held that the corporation’s decision to reincorporate in Nevada is subject to the entire fairness standard. The court found that, based on the facts pled,...more

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