A recent Delaware Court of Chancery decision is reigniting debate around advance notice bylaws and board conduct during proxy contests.
Our New York Partner Shireen Barday recently spoke with The Deal by With Intelligence about the ruling in Vejseli v. Duffy, which involved activist shareholders at Ionic Digital Inc., initially blocked from nominating directors.
Shireen noted that for both companies and activists, “the court’s decision is a reminder to companies to be thoughtful about the records they build and actions that may appear defensive…. the court expects you to give a full and complete packet of information.”
This decision reinforces the delicate balance between enforcing procedural safeguards and upholding shareholder rights.
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