November 19, 2019

November 19, 2019

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November 18, 2019

Subscribe to Latest Legal News and Analysis

Delaware Senate Passes Bill Prohibiting Bylaws on Fee Shifting

Yesterday, the Delaware Senate passed legislation prohibiting publicly-traded corporations from adopting bylaws that force shareholders to pay legal fees if they bring internal corporate claims against the company in court and do not win. The legislation also allows Delaware corporations to designate Delaware – but not any other state – as the exclusive forum for internal corporate claims. The bill passed on a 16-5 vote and now heads to the Delaware House of Representatives.

Click here to view a copy of the legislation, which was passed as introduced.

© 2019 Proskauer Rose LLP.

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About this Author

Jonathan E Richman, Proskauer Rose law firm, litigation attorney
Partner

Jonathan Richman is a Partner in the Litigation Department and a co-head of the Securities Litigation Group. Jonathan has broad experience in a range of civil litigation matters, including securities litigation and investigations, shareholder derivative litigation, insurance sales-practices suits, antitrust litigation, bankruptcy proceedings, product-liability litigation, and employment and ERISA suits.

212-969-3448
Tanya J Dmitronow, Proskauer Rose Law Firm, Litigation Attorney
Partner

Tanya Dmitronow is a Partner in the Litigation Department and a member of the Firm’s White Collar Defense & Investigations and Securities Litigation Groups. Tanya focuses her practice on criminal and civil enforcement proceedings and securities and corporate governance litigation. She has a depth of experience in complex litigation matters, including securities class actions and related individual, ERISA and shareholder derivative suits.

212-969-3449
Rachel S Fischer, Labor Employment Attorney, Proskauer Law firm
Associate

Rachel Fischer is an Associate in the Labor & Employment Law department and resident in the New York office. She handles a wide range of employment litigation matters, including wage-and-hour issues, reductions in force and unlawful discrimination.

212-969-5076
Stacey P. Eilbaum, Litigation Attorney, Proskauer Law Firm
Associate

Stacey Eilbaum is an associate in the Litigation Department. Her practice involves a variety of complex commercial litigation matters, including contract disputes, securities litigation, cross-border commercial disputes and domestic and international arbitration. Stacey has appeared in state and federal court and in proceedings before JAMS and the International Chamber of Commerce.

Stacey’s recent representations include an international arbitration based in London under the ICC Rules concerning indemnity provisions in a personnel supply...

212-969-3147