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Client Alerts

Recent Rulings from Delaware Chancery Favorable to Companies in Shareholder Activism Context

December 19, 2023

By Sean Donahue,Eduardo Gallardo,& Brad Bondi

Two recent rulings from the Delaware Court of Chancery relating to matters that arose in shareholder activism campaigns were favorable to companies. In Paragon Technologies, Inc. v. Terence J. Cryan, et al. (November 30, 2023) and Texas Pacific Land Corporation v. Horizon Kinetics LLC, et al. (December 1, 2023), Delaware courts continued to recognize the enforceability of advance notice bylaw provisions, the legitimacy of NOL rights plans, and the enforceability of contractual provisions in activism settlement agreements.

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Practice Areas

Shareholder Activism & Takeover Defense

Litigation


For More Information

Image: Sean Donahue
Sean Donahue

Partner, Corporate Department

Image: Eduardo Gallardo
Eduardo Gallardo

Partner, Corporate Department

Image: Brad Bondi
Brad Bondi

Partner, Litigation Department

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