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The D&O Diary

A Periodic Journal Containing Items of Interest From the World of Directors & Officers Liability, With Occasional Commentary

Fee-shifting bylaw

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By Kevin LaCroix on July 9, 2014
Posted in Cyber Liability, Director and Officer Liability

newspaperCybersecurity as a D&O Liability Issue: I have noted in prior posts on this site (refer for example here) that cybersecurity represents, among other things, a D&O liability exposure. The recent lawsuits filed against Target (refer here) and Wyndham Worldwide (refer here) underscore this point. In addition, at least according to a …

Delaware Legislative Proposal to Restrict Fee-Shifting Bylaws Held Over to Next Year

By Kevin LaCroix on June 23, 2014
Posted in Corporate Governance

delaware2As I noted in a recent post (here), in response to a recent Delaware Supreme Court decision upholding the facial validity of fee-shifting bylaws, proposed legislation was  introduced in the Delaware General Assembly to limit the Supreme Court’s ruling and to restrict the ability of Delaware corporations to utilize their bylaws to shift …

Delaware Legislative Revision Proposed to Restrict Fee-Shifting Bylaws

By Kevin LaCroix on May 28, 2014
Posted in Corporate Governance

delaware2As discussed in a recent post (here), in a May 8, 2014 decision the Delaware Supreme Court upheld the facially validity of a nonstock corporation’s bylaw provision shifting attorneys’ fees and costs to unsuccessful plaintiffs in intra-corporate litigation. Because the court’s holding seemed to be equally applicable to stock corporations as well as …

Delaware Supreme Court Upholds Fee-Shifting Bylaw Validity

By Kevin LaCroix on May 14, 2014
Posted in Corporate Governance

delsuppctIn a development with significant implications for the economics of shareholder litigation, the Delaware Supremee Court has upheld the validity of a corporate bylaw provision shifting fees to an unsuccessful litigant. In a May 9, 2014 opinion (here), the Court held in ATP Tour, Inc. v. Deutscher Tennis Bund that a by-law provision …

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Kevin M. LaCroix is an attorney and Executive Vice President, RT ProExec, a division of RT Specialty. RT ProExec is an insurance intermediary focused exclusively on management liability issues…

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