Shareholder Attys Defend $3.6M Fee Bid in Forum Bylaw Suits

Law360, Wilmington (May 29, 2012, 9:53 PM EDT) -- After several corporations have backed off from proposed exclusive-forum bylaws in response to shareholder lawsuits, attorneys for the investors on Friday said they should haul in $3.6 million in fees for the effort despite two open suits challenging similar bylaws.

In February, Prickett Jones & Elliott PA led the charge against the controversial bylaws, which would bind shareholders to litigate many common claims, such as breach of fiduciary duty against directors, in the Delaware Chancery Court. The firm unleashed a dozen lawsuits in the same court...
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