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January 12, 2015

‘Battle Lines’ Drawn Over Delaware Fee-Shifting Fight

Pensions & Investments’ Hazel Bradford writes that “battle lines” have been drawn over a 2014 Delaware court ruling “that lets companies shift legal fees to investors bringing lawsuits.” Business groups, writes Bradford, are on the “front lines,” where they see “an opportunity to put the brakes on what they see as an epidemic of shareholder litigation.”

“Companies should have the option to have fee shifting in their bylaws,” said Matt Webb, ILR senior vice president for legal reform policy.

Webb added that interest from other states in addressing the fee-shifting bylaws “as a way of attracting companies ‘should be a pretty large warning light’ for Delaware not to take an anti-corporate stance.”

Read the full story here.

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