Investors Unleash Flurry Of Suits Over Del. Court Forum Bylaws

Law360, Wilmington (February 07, 2012, 8:29 PM ET) -- Shareholders launched several putative class actions Monday challenging bylaws adopted by Chevron Corp., Inc. and others that bind investors to litigate a broad range of corporate disputes only in the Delaware Chancery Court.

The six nearly-identical lawsuits, all filed in the Chancery Court, allege the bylaws create a “heads I win, tails you lose” scenario where the companies can consent to a different forum, but absent such consent, shareholders and other parties under the corporate umbrella must have their claims heard in the venerable Delaware...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers