West Palm Beach Firefighters’ Pension Fund v. Moelis & Co.: An Affirmation of Statutory Board Authority
By EsqSocial Corporation 18/04/24
The Delaware Court of Chancery decided two cases recently that may have a significant impact on future corporate action, in each stressing the need for corporate actors to follow statutory requirements, even when in potential tension with market practice. In a decision that may cause controlled companies to revisit existing stockholders agreements, the Delaware Court of Chancery in West Palm Beach Firefighters’ Pension Fund v. Moelis & Co. found certain terms in Moelis & Co.’s stockholders...
By: Cadwalader, Wickersham & Taft LLP