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Court Of Chancery Upholds New Forum Selection Bylaw

City of Providence v. First Citizens Bancshares Inc., C.A. 9795-CB (September 8, 2014) This is the latest battle in the continuing war over the use of corporate bylaws to affect litigation over corporate internal affairs. Here, the Court upheld a bylaw of a Delaware corporation that chose North Carolina as the forum for litigation over internal affairs and dismissed the litigation in Delaware attacking that bylaw. The opinion is also noteworthy for putting to rest any argument that various statutes in the DGCL limit litigation over certain matters to just the Court of Chancery, such as books and records cases. Share
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