July 18, 2024
Delaware Amendments: “The Die is Cast!” Don’t Miss Next Week’s Webcast!
Yesterday, Delaware Governor John Carney signed into law SB 313, the controversial 2024 DGCL amendments. The most hotly contested change put in place by the legislation is new Section 122(18) of the DGCL, which is intended to address the Chancery Court’s decision in West Palm Beach Firefighters v. Moelis, (Del. Ch.; 2/24), but the amendments also respond to issues raised by several other recent Chancery Court decisions.
Advocates of the legislation contend that it is necessary to address “rogue” decisions by the Chancery Court that were inconsistent with market practice, while critics argue that it makes seismic changes to the DGCL without sufficient deliberation, raises a number of unanswered questions and reopens many governance issues that were long thought to be settled.
With all of the controversy surrounding the 2024 DGCL amendments and their potentially profound impact on Delaware corporations, you won’t want miss next week’s webcast – “2024 DGCL Amendments: Implications & Unanswered Questions”. Our panel of experts will review the changes made by SB313 and their implications for governance and acquisition agreements. They’ll also address the interplay between fiduciary duties and contractual obligations that is at the heart of much of the uncertainty resulting from this legislation, and discuss some of the unanswered questions that will likely fall into the Chancery Court’s lap over the next several years.
– John Jenkins