September 25, 2014
Hemispherx Biopharma Passes As Guinea Pig for Fee-Shifting Bylaw
As noted in this article, Hemispherx Biopharma has elected not to seek enforcement of its fee-shifting bylaw in an ongoing Delaware Chancery Court case, which could have been the first test of the actual validity of such a provision. Defendants notified the court of their decision in a Sept. 16 letter. During a Sept. 12 conference, Chancellor Bouchard had ordered Hemispherx to clarify how it sought to apply its fee-shifting bylaw. Also see this blog by Cooley’s Cydney Posner.
Meanwhile, see Keith Bishop’s blog entitled “SEC Advisory Committee to Consider Fee-Shifting Bylaws, But Why?“…