Tag Archives: DGCL Section 141

Chancery Enjoins Shares Issued to Director Without Stockholder Approval

A recent Court of Chancery decision is notable for its analysis of an issuance of shares approved by a sole director–but without stockholder approval. In the matter of Applied Energetics, Inc. v. Farley, C.A. No. 2018-0489-TMR (Del. Ch. Jan. 24, 2019), the court considered a somewhat unusual set of facts that included a shell corporation, at the time of … Continue Reading

Supreme Court Decides SEC-presented Delaware Bylaw Issue

CA, Inc. v. AFSCME Employees Pension Plan, (Del. Supr., July 17, 2008), read opinion here.(Revised opinion dated August 15, 2008, available here.) This Delaware Supreme Court  decision has been anticipated by the corporate legal world with great interest since oral arguments were heard by Delaware’s High Court last week.  My post with some background can be found … Continue Reading