05.01.2008 Delaware Courts Narrowly Construe Advance Notice Bylaws
05. 2008
The Delaware Chancery Court recently issued two significant decisions relating to the interpretation of advance notice bylaws. In both cases, the Chancery Court narrowly construed the language of the advance notice bylaws and held that they did not apply to the dissident shareholders’ proposals. Based on these cases, corporations should review and consider revising their bylaws to ensure that the advance notice bylaw will provide the intended effect.

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