In 2015, the Delaware General Corporation Law (“DGCL”) was amended to prohibit Delaware corporations from adopting bylaws that imposed liability on a stockholder for the attorneys’ fees or expenses of the corporation or any...more
Prohibition on Fee-Shifting Provisions -
The legislation signed into law last week responds to the Delaware Supreme Court’s decision in ATP Tour, Inc. v. Deutscher Tennis Bund, 91 A.3d 554 (Del. 2014) in which the Court...more
7/7/2015
/ Attorney's Fees ,
Breach of Duty ,
Bylaws ,
Controlling Stockholders ,
Corporate Charters ,
Corporate Governance ,
DE Supreme Court ,
Fee-Shifting ,
Fiduciary Duty ,
Forum Selection ,
New Legislation ,
Privately Held Corporations ,
Shareholder Litigation ,
Stock Corporations
The Delaware Court of Chancery, in Boilermakers Local 154 Retirement Fund v. Chevron Corporation, C.A. No. 7220-CS (Del. Ch. June 25, 2013), has ruled that forum selection bylaws, bylaws providing for litigation to be in a...more