The Delaware Chancery Court As Corporate Regulator
November 7, 2011, 3:49 PM EST
Law360, New York (November 7, 2011, 3:49 PM EST) -- The Delaware Chancery Court has become the regulator of first and last resort overseeing director conduct in approving corporate transactions. For corporations incorporated in Delaware, which is most public companies, it is the Delaware court that has grown into the final arbitrator as to whether shareholders of the corporation are properly protected and are treated correctly when a corporate transaction is proposed.
The announcement of a proposed merger, buyout or significant sale of assets is often followed by the commencement of legal proceedings. Regardless of how...