Del. Court Reads Advance Notice Bylaw Narrowly

Law360, New York (May 6, 2008, 12:00 AM EDT) -- The Delaware Court of Chancery has narrowly interpreted an advance notice bylaw and left CNET Networks without the protection of this important provision in the context of a proxy fight. JANA Master Fund v. CNET Networks (March 13, 2008).

U.S. public companies should review their advance notice bylaw provisions in light of the JANA decision to make sure they do not have the drafting problems that led the court to its narrow interpretation of CNET's bylaw.

In the JANA case, an investment fund gave notice to...
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