Corporate governance practice chair Claudia H. Allen was quoted in a March 5, 2012 Delaware Corporate article titled “More major companies sued over 'exclusive forum' bylaws.” The article was also published in Corporate Officers & Directors Liability Litigation Reporter, Delaware Corporate Litigation Reporter, and Mergers & Acquisitions Litigation Reporter.
The article reports that FedEx and Air Products & Chemicals are among a dozen other major companies facing lawsuits over bylaws adopted by directors without shareholder approval. These bylaws would force corporate litigation into the Delaware Chancery Court.
"Claudia Allen, a partner at Neal, Gerber & Eisenberg in Chicago, said the exclusive forum bylaws seem to be a reaction to a trend by shareholders to sue outside Delaware in hopes of finding courts that are perceived as less protective of corporate management."