Supreme Court Approves Move Of Annual Meeting
Posted In Stockholders' Meetings
Airgas Inc . v. Air Products and Chemicals Inc., C.A. 649,2010 (November 23, 2010)
In this decision, the Delaware Supreme Court reversed a decision by the Court of Chancery and held that in a staggered board, directors must serve the 3 year term to which they were elected. Hence a Chancery decision permitting the meeting date to be moved up to replace directors sooner than a full 3 year term was invalid.
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