October 22, 2021

Volume XI, Number 295

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October 22, 2021

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October 21, 2021

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October 20, 2021

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Should Insider Reverse Veil Piercing Be Applied To Protect Constitutional Rights?

Last Friday's post addressed Vice-Chancellor Slights' novel ruling that outsider reverse veil piercing is an equitable remedy that is available in Delaware.  Manichaean Capital v. Excela Technologies, Inc., 2021 Del. Ch. LEXIS 100.  What about insider reverse veil piercing?  Insider reverse veil piercing occurs when a shareholder seeks to disregard the corporate entity.  Professor Stephen Bainbridge recently makes the case that insider reverse veil piercing is "s the only doctrinal way of deciding when a corporation's shareholders may assert their free exercise rights when the state infringes on those rights by regulating their corporation".

Professor Bainbridge post identifies a number of defects in the amicus brief filed by 44 law professors in Hobby Lobby Stores, Inc. v. Sebelius, 133 S. Ct. 641 (2012).  Readers may recall that I too found fault with the academy's brief but for a different reason: 44 Law Professors Make A Case Against Corporate Social Responsibility.

© 2010-2021 Allen Matkins Leck Gamble Mallory & Natsis LLP National Law Review, Volume XI, Number 152
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About this Author

Keith Paul Bishop, Corporate Transactions Lawyer, finance securities attorney, Allen Matkins Law Firm
Partner

Keith Bishop works with privately held and publicly traded companies on federal and state corporate and securities transactions, compliance, and governance matters. He is highly-regarded for his in-depth knowledge of the distinctive corporate and regulatory requirements faced by corporations in the state of California.

While many law firms have a great deal of expertise in federal or Delaware corporate law, Keith’s specific focus on California corporate and securities law is uncommon. A former California state regulator of securities and financial institutions, Keith has decades of...

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