Corporate
Jul. 9, 2013
Court greenlights corporations' use of 'forum selection bylaws'
A Delaware court rejected a challenge to the use of forum selection bylaws requiring claims related to the internal affairs of a corporation to be brought in the state of incorporation. By Eric Waxman and Virginia Milstead
On June 25, the Delaware Court of Chancery in the consolidated cases of Boilermakers Local 154 Retirement Fund v. Chevron Corp., Del. Ch. C.A. No. 7220-CS, and ICLub Inv. Partnership v. Fedex Corp., Del. Ch. C.A. No. 7238-CS (collectively, "Chevron"), rejected a facial challenge to the validity of so-called "forum selection bylaws," which require claims related to the internal affair...
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