On March 18, 2020, the Delaware Supreme Court issued an opinion in the closely watched appeal in Sciabacucchi v. Salzberg, a case involving a challenge to charter provisions of three Delaware corporations requiring stockholder plaintiffs to litigate claims under the Securities Act of 1933 (the “1933 Act”) in federal court. The en banc Supreme Court unanimously upheld such provisions against the plaintiffs’ facial challenge, reversing the Delaware Court of Chancery’s prior decision in this case.
Please click here to read the full alert memorandum.