Court of Chancery Upholds Advance Notice Bylaw

Posted on May 18, 2007 by Edward M. McNally
  • Email This
  • Print
  • Comments
  • Share Link

Openwave Systems Inc. v. Harbinger Capital  Partners Master Fund I, Ltd., C.A. No. 2690-VCL (May 18, 2007).

Corporate bylaws sometimes require that the company be given advance notice of the intent to nominate anyone for election to the board. When those provisions are not clear, they will be interpreted in the way that expands stockholder rights. However, when the provisions are clear enough to give notice of their minimum requirements, then they will be enforced. That is what occurred here where the winning candidate was disqualified for his failure to comply with a reasonably clear advanced-notice bylaw.

Tags: ,
Trackbacks (0) Links to blogs that reference this article Trackback URL
Comments (0) Read through and enter the discussion with the form at the end
Post A Comment / Question Use this form to add a comment to this entry.







Remember personal info?
Send To A Friend Use this form to send this entry to a friend via email.