In this edition of Dechert’s Securities & Derivative Litigation Quarterly Update, we examine (1) a California appellate court decision upholding a federal forum selection provision; (2).
On April 28, 2022, the Court of Appeals of California, First District, upheld a corporate charter provision requiring shareholders to file Securities Act of 1933 (“Securities Act”).
As we have discussed in prior client alerts (see here and here), in the wake of the Delaware Supreme Court's decision in Salzberg v. Sciabacucci (Salzberg), 227 A.3d 102 (Del. 2020).
New York Court Joins Other State Courts in Dismissing Securities Act Claims in Favor of Federal Forum Provision | Kramer Levin Naftalis & Frankel LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
On Monday, the Nevada legislature commenced its 81
st session. The legislature meets biennially in odd numbered years. The Session is limited to 120 days. Nev. Const. Art. 4, § 2. Yesterday, Senator James Ohrenschall introduced SB 95 which would make numerous significant changes to Nevada s private corporation law.
Among other things, SB 95 would amend NRS 78.046 to permit a Nevada corporation s articles or bylaws to require that concurrent jurisdiction actions be brought solely or exclusively in the court(s) specified in the articles or bylaws. The bill defines concurrent jurisdiction action as any action, suit or proceeding against the corporation or any of its directors or officers, that: