By Matt Chiappardi (June 11, 2015, 8:51 PM EDT) -- A bill that would prohibit public companies from adopting provisions that shift legal fees in shareholder litigation onto the losing party came one step closer to becoming Delaware law Thursday as it sailed through the First State's House of Representatives.
The bill, S.B. 75, overwhelmingly passed during a late House session in Legislative Hall in Dover. Forty of the lower chamber's 41 members voted in favor of the measure, which would amend Delaware General Corporation Law to include a ban on fee-shifting or "loser pays" bylaws related to shareholder litigation. One House member was absent.
The proposed ban has been praised...
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