Chevron Wants Del. High Court's Final Stamp On Forum Bylaw

Law360, New York (January 31, 2014, 9:40 PM EST) -- Chevron Corp. asked a California federal judge Friday for leave to seek the Delaware high court's approval of a corporate bylaw that would make the First State the sole forum for shareholder suits against the oil company.

While the Delaware Chancery Court has upheld the validity of bylaws that set the state as the exclusive home of stockholder suits, Chevron says it needs the certainty that only a ruling from the Delaware Supreme Court can provide.

Since the plaintiffs who challenged Chevron's bylaw in Chancery Court are no longer appealing the decision, the energy giant has asked a California federal judge...

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