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June 11, 2015

Delaware as Nation’s Corporation HQ Threatened by New Anti-Fee-Shifting Legislation

Former Securities and Exchange Commissioner Paul Atkins writes that Delaware risks “eroding its vaunted position” as the “undisputed champion of where companies choose to call home” if its legislature passes a bill preventing corporations from adopting fee-shifting bylaws.

Atkins references ILR research which finds that, in recent years, 93% of all corporate transactions valued above $100 million were challenged by one or more lawsuits, oftentimes in multiple states simultaneously–a figure up 39% since 2005.

“Instead of outlawing the tool of fee shifting,” writes Atkins, “Delaware legislators should ask why companies are considering adopting this tool in the first place. The answer is because they are finding no relief from this vexing and costly litigation.” (Real Clear Markets)

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