Tilray Wins Lower Vote Standard After Top Delaware Court Review

A trial court correctly interpreted 2023 Delaware corporate law amendments that lowered certain voting standards when dismissing an investor’s claims against Canadian cannabis company Tilray Brands Inc., the state’s highest court ruled Wednesday.

The two-page order upholds a Delaware Chancery Court ruling that tossed a lawsuit alleging Tilray attempted to mislead investors into raising its share limit. Justice Karen L. Valihura signed the order for the high court’s full five-member panel; it doesn’t elaborate on their reasoning for affirming the lower court’s opinion.

State lawmakers amended the default voting standard to make it easier for public companies to change ...