Del. Justices Reverse Chancery On Federal Forum Selection
Law360 (March 18, 2020, 11:25 AM EDT) -- Delaware's Supreme Court on Wednesday reversed a Chancery Court finding that state corporation law prohibits companies from adopting federal forum selection provisions for Securities Act litigation, saying the law instead provides "flexibility and wide discretion" for organizing, governing and financing businesses.
Delaware's Supreme Court on Wednesday found state corporations can adopt charter provisions requiring Securities Act litigation to be filed in a federal court. (Getty) The decision on the closely watched case — which drew friends of the court briefs on both sides of the issue — also reversed a $3 million fee award that Vice Chancellor J. Travis Laster approved...
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