Shareholder Sues CA Inc. Over Proposed Bylaw

Law360 (May 12, 2006, 12:00 AM EDT) -- A shareholder has launched a suit against CA Inc. in a Delaware court in a move to find out how much power investors have to revise company bylaws.

The lawsuit was filed on behalf of Harvard professor and corporate-governance expert Lucian Bebchuk in Delaware Chancery Court and asks the court to rule on whether his actions in a shareholder proposal are illegal under Delaware law because they would allow shareholders to decide on a matter normally made by directors.

At a time when more shareholders are...
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