California Court Applies Delaware Law
The blog called, May It Please The Court, reports on a recent California case that applied Delaware law to dismiss a derivative suit based on the well-known prerequisite of continuous stock ownership. This compares with the recent Delaware case of Examen, Inc. that I reported on here, in which the internal affairs doctrine was the basis for deciding that Delaware law applied to the determination of certain preferred stock rights despite the arguments that California law should control.
