Richard L. Renck

4 days ago | mondaq.com | Richard L. Renck |Rebecca Guzman |Darrick M. Mix |Richard A. Silfen

On March 25, 2025, the Delaware Governor Matt Meyer signed intolaw amendments to the state's GeneralCorporation Law (DGCL) that are intended to reinforceDelaware's long-standing dominance in the market for corporatecharters and to address frustrations of corporate directors,corporate management and investors that have been simmering inresponse to certain lines of case law that had been emanating fromthe state's courts.

Dec 11, 2024 | law.com | Richard L. Renck

The Complex Commercial Litigation Division of Delaware’s Superior Court recently issued a ruling on a motion for summary judgment that, while nominally addressing the application of the statute of limitations to dismiss claims related to the escheatment of shares of stock to the state of Delaware, provides lessons for investors about the level of attention and diligence they should apply to managing their financial affairs. In Saunders v. Lightwave Logic, C.A. No. N23C-05-120 (Oct.

Nov 12, 2024 | mondaq.com | Richard L. Renck

A new decision of Delaware's Court of Chancery addresses an interesting intersection of recent attention to entities potentially moving their places of incorporation from Delaware to some other jurisdiction–like Nevada–and 2022 amendments to Section 266 of the DGCL that changed the historic need for a unanimous stockholder vote to enact such a conversion to the need to seek and receive only the vote of a simple majority of the shares entitled to vote (matching the voting requirements for a...

Nov 7, 2024 | blogs.duanemorris.com | Richard L. Renck

A new decision of Delaware’s Court of Chancery addresses an interesting intersection of recent attention to entities potentially moving their places of incorporation from Delaware to some other jurisdiction–like Nevada–and 2022 amendments to Section 266 of the DGCL that changed the historic need for a unanimous stockholder vote to enact such a conversion to the need to seek and receive only the vote of a simple majority of the shares entitled to vote (matching the voting requirements for a...

Nov 4, 2024 | mondaq.com | Richard L. Renck

A recent order from the Court of Chancery highlights the need for precision in the drafting of LLC operating agreements, particularly in setting forth the rights that members of the LLC will have to information regarding the LLC. On August 21, 2024, Vice Chancellor Fioravanti issued his Order Addressing Motions to Dismiss in the matter of Potts, et al. v. SYFS Intermediate Holdings, LLC, et al., C.A. No. 2023-0557-PAF (copy below).