BNA Publishes Forum Selection Bylaws Article by Scott Barnard and Jenny Walters
“Viva Delaware!: Strine Upholds Board-Adopted Forum Selection Bylaws,” an article by Akin Gump partner Scott Barnard and counsel Jenny Walters, both of the firm’s litigation practice, has been published by Bloomberg BNA’s Securities Regulation & Law Report.
The article discusses a June 25, 2013, opinion by Chancellor Leo Strine Jr. of the Delaware Court of Chancery in Boilermakers Local 154 Ret. Fund v. Chevron Corp., a case involving “the statutory and contractual validity of forum selection bylaws that are adopted by boards of directors without shareholder approval.” The court upheld this validity.
The article discusses, among other topics, the history of forum selection clauses, challenges to what the authors term the “forum selection bylaw phenomenon,” the details of Chancellor Strine’s opinion and the decision’s likely impact for corporations.
To read the article, please click here.