7th Circ. Boeing Ruling Tears Open Forum Rift In Delaware
By Jeff Montgomery (January 13, 2022, 8:27 PM EST) -- Boeing shareholders still have an uphill fight ahead after winning a Seventh Circuit ruling that ran right through the crossroads of corporate law and a Catch-22 company bylaw restricting federal derivative claims to Delaware's Chancery Court, which is barred from hearing them.
Experts said the decision last week in Seafarers Pension Plan v. Robert Bradway, if upheld, closes a loophole in securities law seen as limiting stockholder rights, potentially reducing the risk federal regulators or Congress will see the state's corporation law as tilted too far in favor of big corporations.
Boeing can still appeal the split decision by a three-judge circuit panel that...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!