Halliburton Board Bylaws ‘Would Choke a Horse,’ Lawsuit Says

An investor is suing Halliburton Co. over claims that its board nomination bylaws are both too vague to comply with and so restrictive they “would choke a horse.”

The lawsuit, docketed Tuesday, targets bylaw provisions the fracking and oil services giant adopted late last year that cover the advance-notice disclosures required of stockholders seeking to nominate corporate directors. The complaint in Delaware’s Chancery Court also names Halliburton board members as defendants.

The proposed class action is the latest in a wave of similar cases taking aim at advance-notice bylaws and the ways they’re enforced by boards allegedly seeking to kneecap ...