Amended Chevron Forum Bylaw Still Invalid, Investors Say

Law360, Wilmington (October 12, 2012, 6:51 PM EDT) -- Two Chevron Corp. shareholders said Thursday that changes to a controversial bylaw that forces investors to resolve their disputes with the oil giant in Delaware court fail to correct the bylaw's problems and raise further questions about its legality.

In February, the two pension funds sued Chevron in Delaware Chancery Court over the exclusive forum bylaw, which binds shareholders to litigate many common claims, including class action and derivative claims for breach of fiduciary duty, in the chancery court. The suit challenged the bylaw on the...
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