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Bracewell LLP

Texas Continues Corporate Law Overhaul With SB 2411

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Texas continues to position itself as a business-friendly jurisdiction of choice with the passage of Senate Bill 2411, signed by Governor Greg Abbott on May 27, 2025. Effective September 1, the new law amends the Texas...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Informed Board - Spring 2025

In this issue of The Informed Board, we go behind all the talk about companies reincorporating in states other than Delaware. In our lead article and our podcast, we point out that few companies actually moved, and we explain...more

Skadden, Arps, Slate, Meagher & Flom LLP

Director Matthew Massengill Shares Firsthand Lessons About Splitting a Company

Matthew Massengill is a director and former chairman and CEO of Western Digital, which announced plans in October 2023 to spin off its flash memory businesses from the division that makes hard drives. He spoke with The...more

Tarter Krinsky & Drogin LLP

Significant DGCL Amendments Expand Protections for Corporate Insiders

Amendments to Section 144 of the Delaware General Corporation Law (DGCL) broaden safe harbor protections for interested director and officer transactions and extend such protections to controlling stockholder transactions....more

Fenwick & West LLP

Delaware Amends General Corporation Law to Stanch Company Exodus

Fenwick & West LLP on

On March 25, Delaware adopted significant amendments to §§ 144 and 220 of the Delaware General Corporation Law which aim to provide greater clarity and predictability to corporate fiduciaries in light of certain recent...more

Cadwalader, Wickersham & Taft LLP

Delaware Governor Signs Senate Bill 21 into Law, Significantly Amending Delaware Corporate Law

On March 25, 2025, Delaware Governor Matt Meyer signed into law Senate Bill 21, amending Sections 144 and 220 of Title 8 of the Delaware General Corporation Law (DGCL). The legislation responds to recent concerns over...more

Troutman Pepper Locke

2025 DGCL Amendments Take Effect, Introducing Sweeping Safe Harbor Provisions for Conflict Transactions

Troutman Pepper Locke on

On March 25, 2025, sweeping changes to the Delaware General Corporation Law (the DGCL) took effect (the amendments). The amendments introduce new “safe harbor” provisions designed to cleanse conflict transactions involving...more

Holland & Knight LLP

Delaware Supreme Court: Permissive Business Judgment Rule Applies to Corporate Conversions

Holland & Knight LLP on

everal 2024 decisions by the Delaware Court of Chancery led some prominent corporate leaders to express frustration over perceived increased liability standards for corporate officers and directors, even publicly advising new...more

Barnea Jaffa Lande & Co.

Approving a remuneration policy and paying remuneration to senior officers while overruling the general meeting’s opposition

Last month, the State Attorney-General and the Israel Securities Authority published their positions with regard to the overruling mechanism. The context relates to the requirement for public companies and private companies...more

Skadden, Arps, Slate, Meagher & Flom LLP

2025 Outlook: Key Delaware Court Appeals and Their Impact on Corporate Law

In 2024, Delaware courts continued to address important areas of corporate law, particularly regarding controlling stockholders. Several of those high-profile decisions were decided at the trial level and are now on appeal....more

Allen Matkins

FDIC Plans To Sue Silicon Valley Bank And Holding Company Directors And Managers

Allen Matkins on

Last week Kevin M. LaCroix reported that the Board of Directors of the Federal Deposit Insurance Corporation had voted unanimously to approve the staff’s request for authorization to file a suit against six former officers...more

Allen Matkins

So You Want To Sue "The Board", Is That Even Possible?

Allen Matkins on

A little more than eight years ago, I wrote about U.S. District Court Judge Ronald M. Whyte's ruling that a corporate board of directors lacks the capacity of being sued.  Theta Chi Fraternity, Inc. v. Leland Stanford Junior...more

Allen Matkins

Tornetta v. Musk - Too Many Words!

Allen Matkins on

After the premiere performance of Mozart's singspiel Entführung aus dem Serail (The Abduction from the Seraglio) in Vienna’s old Burgtheatert, Emperor Joseph II of Austria reportedly quipped "Too many notes, dear Mozart, too...more

Allen Matkins

Delaware Court Awards Attorneys Nearly $18,000/Hour For Frustrating The Will Of The Stockholders

Allen Matkins on

Although parties in American litigation usually are responsible for paying their own attorneys' fees, there are many exceptions.  One of those exceptions is when someone confers a "common benefit".   A common benefit may, for...more

Allen Matkins

Is Delaware Corporate Law Meant Only For The Oἱ Όλίγοι?

Allen Matkins on

Professor Stephen Bainbridge has offered a rebuttal to my observation that Delaware's corporate law is inaccessible to everyday observers.  He posits that inaccessibility is a "feature not a bug".  As an example, he describes...more

Allen Matkins

Court Rules That When Profits Are Hypothetical There Can Be No Civil Theft

Allen Matkins on

Under California Penal Code Section 496(a) a person who buys or receives any property that has been stolen or that has been obtained in any manner constituting theft or extortion, knowing the property to be so stolen or...more

Allen Matkins

Delaware's Problem Isn't That It's Pro-Plaintiff And Anti-Business, It's That Its Corporate Law Is Too Labyrinthine And...

Allen Matkins on

Professor Stephen Bainbridge recently took note of a draft essay by Yale Law School Professor Jonathan R. Macey, Delaware Law Mid-Century: Far From Perfect but Probably Not Leaving for Las Vegas.  Professor Macey posits that...more

Ankura

Foundational Steps for Executives to Create a Shared Vision for a Transformation Program

Ankura on

Previously, we introduced the following basic concepts to help create a healthy transformation program culture: 1. Executive Engagement, 2. Shared Vision, 3. Guiding Principles, 4. Clear Governance, and 5. Change Management....more

Bennett Jones LLP

Canadian Securities Administrators Publish Tenth Report Regarding Women on Boards and in Executive Officer Positions

Bennett Jones LLP on

The Canadian Securities Administrators (CSA) recently published its 10th annual Review of Disclosure Regarding Women on Boards and in Executive Officer Positions (Year 10 Report) (the Review). The Review outlines the CSA's...more

Allen Matkins

If Delaware Wants To Stay On Top, It Should Loose The Ties That Bind

Allen Matkins on

In a lengthy post yesterday, Professor Stephen Bainbridge advanced the following argument...more

Allen Matkins

Will This Effluence Ever End? One More Public Company Proposes To Leave Delaware For Nevada

Allen Matkins on

Gaxos.ai Inc. lists its corporate headquarters as Roseland, New Jersey, but like many companies it is incorporated in Delaware.  Last week, it joined several other companies that are proposing to reincorporate in Nevada.  In...more

Bricker Graydon LLP

Navigating ESOP Transactions: Essential Steps to Minimize DOL Scrutiny from the Start

Bricker Graydon LLP on

In a recent court ruling, the US Department of Labor (DOL) prevailed against corporate directors and shareholders for claims related to an Employee Stock Ownership Plan (ESOP) transaction. ...more

Allen Matkins

When Dismissing A Case Violates Due Process

Allen Matkins on

When a shareholder sues derivatively, the shareholder is seeking relief not for itself, but for the corporation.  Therefore, it should be expected that the shareholder is not free to compromise or dismiss the suit absent...more

Allen Matkins

Just What Are The Duties Of A Controlling Shareholder And How Should Claims Of Breach Be Brought?

Allen Matkins on

In a recent post, Professor Stephen Bainbridge discusses the question of when a controlling shareholder owes fiduciary duties to minority shareholders.  Knowing when controlling shareholder owes fiduciary duties is one thing,...more

Allen Matkins

Where Corporations Most Often Propose To Reincorporate

Allen Matkins on

Recently, I wrote that The Trade Desk, Inc. is proposing to reincorporate from Delaware into Nevada.  An appendix to the company's definitive proxy statement includes a table of Proposed Reincorporations, Proxy Filings from...more

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