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Activist Proxy Slates and Advance Notice Bylaws

corpgov.law.harvard.edu

In a recent bench ruling, the Delaware Court of Chancery enforced an advance notice bylaw and thereby precluded an activist investor from nominating a slate of directors and conducting a proxy contest at a company’s annual meeting.  The court enforced the plain terms of the advance notice bylaw, which required that notice of the nominations had to be given by a stockholder of record...

Mentions: Activist Investors Annual Meeting Bylaws