Addressing two separate, but related lawsuits by shareholders of Chevron Corp. and FedEx Corp., the Delaware Chancery Court June 25 upheld the two companies’ similar “forum selection bylaws,” which provide that litigation relating to the companies’ internal affairs should be conducted in Delaware, the companies’ state of incorporation (Boilermakers Local 154 Retirement Fund v. Chevron Corp.; ICLUB Investment Partnership v. FedEx Corp.).
Chancellor Leo E. Strine Jr. held that the challenged bylaws are statutorily and contractually valid.
Claudia H. Allen, a Chicago-based partner at Neal, Gerber & Eisenberg LLP, told BNA that the opinion was a “broad ...
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