NJ Assembly Panel Clears Corporate Regulation Changes

Law360, New York (September 25, 2012, 7:51 PM EDT) -- A New Jersey Assembly panel on Monday advanced changes to laws regulating hostile takeovers, shareholder participation and derivative lawsuits, changes which proponents say would make it easier to do business in the state.

The Assembly Commerce and Economic Development Committee unanimously cleared three bills that respectively modify New Jersey Shareholder’s Protection Act, the New Jersey Business Corporation Act and the state law concerning shareholder derivative proceedings.

If the package is enacted, companies would gain clarifications to the state's hostile takeover protections, another tool to avoid costly...
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