Jul 18, 01:33 PM

Delaware Gov. John Carney Enacts Sweeping Corporate Law Changes on July 18

Delaware Governor John Carney (D) has signed into law sweeping amendments to the state's corporate law on July 18, which could significantly alter corporate governance. The new legislation allows corporations to cede some governance rights to stockholders and transfers some state corporate oversight to other jurisdictions. These changes have sparked rare public tension between the state bar and sitting Chancery Court judges. The amendments are expected to give more power to influential shareholders, enabling them to make more deals on behalf of the company without board oversight. The move has also strained Delaware’s business courts, highlighting the contentious nature of shareholder pacts.

#Delaware #John Carney #Chancery Court

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