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Forum Selection Bylaws Help Combat Multijurisdictional Shareholder...

2014-09-05 03:16:49| Grocery - Topix.net

When almost 98 percent of takeover transactions valued at more than $100 million result in shareholder litigation, 1 and often such transactions are the subject of multiple lawsuits filed in multiple jurisdictions, it is no surprise that companies are looking for ways to make such litigation more manageable and efficient. In 2010, Delaware Court of Chancery Vice Chancellor J. Travis Laster proposed one such method, writing in an opinion that "corporations are free to respond with charter provisions selecting an exclusive forum for intra-entity disputes" 2 if boards believe this would benefit the corporation.

Tags: forum selection combat shareholder