Am I the only one slightly disappointed that the plaintiffs in the Chevron exclusive forum bylaw provision case decided not to pursue their appeal to the Delaware Supreme Court? I'm interested in the question of how the court would treat forum provisions mostly because I'm thinking about the next step: firms electing to adopt mandatory shareholder arbitration, either through Delaware's confidential arbitration procedure or private arbitration. If public firms take their cue from Chevron and begin to adopt such provisions, that's probably not going to be in Delaware's long-term interest. In any event, this is an issue I am interested in following for a host of reasons - many of them totally self-serving. I teach corporate law after all. What would I possibly do with myself if all the corporate law cases went to arbitration?! (Don't answer that!)
Visit the M&A Law Prof Blog, hosted by Brian JM Quinn, for blogs on legal developments in corporate governance and mergers & acquisitions.
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