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Court Of Chancery Strikes Down New Fee-Shifting Bylaw
Posted In Attorneys' Fees/Costs/Interest
Solak v. Sarowitz, C.A. 12299-CB (December 27, 2016)
After the enactment of Section 109(b) of the Delaware General Corporation Law, one would have thought that fee-shifting bylaws were invalid. However, this decision deals with another attempt to shift fees, this time when a stockholder violates the company’s exclusive forum bylaw. Nice try, but the Court holds the bylaw is invalid.
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