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CALIFORNIA CORPORATE & SECURITIES LAW

How The Proposed Fix To Delaware’s Stockholder Consent Statute Can Be Fixed

Earlier this week, I wrote about a proposed amendment to Section 228 of the Delaware General Corporation Law.  The amendment, which is proposed by The Corporate Council of the Corporation Law Section of the Delaware State Bar, would essentially condition the effectiveness of a stockholder consent upon the delivery of a sufficient number of consents with 60…

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Vice Chancellor’s Order Sparks A Wortwechsel In The Blogosphere

Two weeks ago, Vice Chancellor J. Travis Laster denied a proposed stipulated consolidation and scheduling order.  The proposed order directed that the consolidated cases be captioned “In re Astex Pharmaceuticals, Inc. Shareholders Litigation”.  What could be wrong with that?  The cases, after all were class action lawsuits against Astex Pharmaceuticals, Inc. I don’t know why the…

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