Professor Bainbridge: Delaware Legislature Should Revisit DGCL Section 102 (b)(7)
Professor Stephen Bainbridge muses here about the recent Ryan v. Lyondell decision by the Delaware Chancery Court, summarized here, as well as insights by Professor Gordon Smith (who views the decision as predictable), and suggests that it is time for the Delaware Legislature to revisit DGCL Section 102(b)(7) to, among other things, add greater clarity to this very important provision of the Delaware General Corporation Law.
