In August 2022, a number of amendments to the provisions of the Delaware General Corporation Law (DGCL) went into effect. One amendment of note is the extension of Section 102(b)(7)\u2019s exculpation provisions, which now permit corporations to eliminate or limit the personal liability of specified officers for direct claims of breach of the fiduciary duty of care. As a result, several Delaware corporations have amended their charters to extend the Section 102(b)(7) clauses to those senior corporate officers specified under the newly amended statute. Naturally, these actions bring a new issue for the courts to determine: What is the requisite stockholder approval to implement these charter amendments?<\/p>\n
<\/p>\n
To read the full\u00a0Alert<\/em>,\u00a0visit the firm website<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" In August 2022, a number of amendments to the provisions of the Delaware General Corporation Law (DGCL) went into effect. One amendment of note is the extension of Section 102(b)(7)\u2019s exculpation provisions, which now permit corporations to eliminate or limit the personal liability of specified officers for direct claims of breach of the fiduciary duty … <\/p>\n Continue reading “Do New Delaware General Corporation Law Exculpation Amendments Trigger a Mandatory Class Vote for Changes to Charters?”<\/span><\/a><\/p>\n","protected":false},"author":590,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[117,16,6,21,9],"ppma_author":[165,153,154,167],"class_list":["post-208","post","type-post","status-publish","format-standard","hentry","category-general","tag-board-of-directors","tag-corporate-governance","tag-delaware-business-law","tag-delaware-law","tag-dgcl"],"authors":[{"term_id":165,"user_id":590,"is_guest":0,"slug":"raguzman","display_name":"Rebecca A. Guzman","avatar_url":"https:\/\/blogs.duanemorris.com\/delawarebusinesslaw\/wp-content\/uploads\/sites\/16\/2022\/12\/guzmanrebecca-100x100.jpg","author_category":"","last_name":"Guzman","first_name":"Rebecca","job_title":"","user_url":"https:\/\/www.duanemorris.com\/attorneys\/rebeccaguzman.html","description":"Read Rebecca's Bio<\/a>"},{"term_id":153,"user_id":108,"is_guest":0,"slug":"rlrenck","display_name":"Richard L. Renck","avatar_url":"https:\/\/blogs.duanemorris.com\/delawarebusinesslaw\/wp-content\/uploads\/sites\/16\/2014\/08\/renckrichard-125x150.jpg","author_category":"","last_name":"Renck","first_name":"Richard L.","job_title":"","user_url":"http:\/\/www.duanemorris.com\/attorneys\/richardlrenck.html","description":"Read Richard's bio.<\/a>"},{"term_id":154,"user_id":192,"is_guest":0,"slug":"cmwinter","display_name":"Christopher M. Winter","avatar_url":"https:\/\/blogs.duanemorris.com\/delawarebusinesslaw\/wp-content\/uploads\/sites\/16\/2014\/08\/winterchristopher-125x150.jpg","author_category":"","last_name":"Winter","first_name":"Christopher M.","job_title":"","user_url":"http:\/\/www.duanemorris.com\/attorneys\/christophermwinter.html","description":"Read Christopher's bio.<\/a>"},{"term_id":167,"user_id":599,"is_guest":0,"slug":"ssaravi","display_name":"Sahba Saravi","avatar_url":"https:\/\/blogs.duanemorris.com\/delawarebusinesslaw\/wp-content\/uploads\/sites\/16\/2023\/01\/saravisahba-100x100.jpg","author_category":"","last_name":"Saravi","first_name":"Sahba","job_title":"","user_url":"https:\/\/www.duanemorris.com\/attorneys\/sahbasaravi.html","description":"Read Sahba's Bio<\/a>"}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/delawarebusinesslaw\/wp-json\/wp\/v2\/posts\/208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/delawarebusinesslaw\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/delawarebusinesslaw\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/delawarebusinesslaw\/wp-json\/wp\/v2\/users\/590"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/delawarebusinesslaw\/wp-json\/wp\/v2\/comments?post=208"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/delawarebusinesslaw\/wp-json\/wp\/v2\/posts\/208\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/delawarebusinesslaw\/wp-json\/wp\/v2\/media?parent=208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/delawarebusinesslaw\/wp-json\/wp\/v2\/categories?post=208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/delawarebusinesslaw\/wp-json\/wp\/v2\/tags?post=208"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/delawarebusinesslaw\/wp-json\/wp\/v2\/ppma_author?post=208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}