As previously discussed here, the Delaware Senate had already approved legislation that would prohibit corporations from adopting charter or bylaw provisions that shift a corporation’s legal costs to stockholders who are unsuccessful in litigation with respect to “internal corporate claims.” Now, that legislation (S.B. 75) has, easily and without much discussion, been passed by the Delaware House of Representatives. The legislation will now go to Delaware’s governor. Given the relatively easy road the bill has taken in reaching the ’governor’s office (notwithstanding some very vocal opposition to it), it seems likely the governor will sign it, after which it will become law.
12 Jun '15