Last week the Delaware Supreme Court weighed in with what Bloomberg Law dubbed a “first-of-it-kind” ruling dealing with advance notice bylaws, a subject that has emerged as the latest legal tug-of-war between activist investors and corporate board.
Our Litigators of the Week are Teresa Goody Guillén and Richard Raile of Baker & Hostetler and John Seaman of Abrams & Bayliss who represent Ted Kellner, an AIM ImmunoTech Inc. stockholder who saw his nominations for board seats rejected under what the Delaware court called the company’s “sweeping new advance notice provisions” adopted during an activist campaign requiring a trove of information about potential board nominees.
