Capital Markets & Securities Law Watch

A wave of substantially similar stockholders’ complaints have recently been filed by plaintiffs’ firms in the Delaware Court of Chancery challenging certain advance notice bylaw provisions commonly included in public companies’ bylaws.

On March 18, 2020, the Delaware Supreme Court, reversing a December 2018 decision of the Delaware Court of Chancery, held that Delaware corporations may adopt federal forum selection charter provisions that require stockholders to bring all suits asserting violations of the Securities Act of 1933 (the Securities Act) in federal court.