Corporate
Jan. 6, 2011
Oracle Bylaws Can't Forestall Suit
A bylaw passed by Oracle Corp.'s board of directors that requires shareholder derivative suits to be filed in Delaware can't be used to dismiss a pair of derivative lawsuits filed in the Northern District, a federal judge ruled late Monday.
Daily Journal Staff Writer
SAN FRANCISCO - A bylaw passed by Oracle Corp.'s board of directors that requires shareholder derivative suits to be filed in Delaware can't be used to dismiss a pair of derivative lawsuits filed in the Northern District, a federal judge ruled late Monday.
No other judge has ruled on the validity of such bylaws, called forum selection clauses. The clauses have become more common in the last y...
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