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Del Justices Uphold Williams Cos Poison Pill Shutdown

Delaware's full Supreme Court upheld without elaboration on Wednesday a Chancery Court strike-down of what was described as an "extreme'' shareholder rights or "poison pill" provision adopted by The Williams Cos. last year.

Williams Cos Says Toss Of Del Poison Pill Tilted Playing Field

The Williams Cos. told Delaware's full Supreme Court Wednesday that Chancery Court "put its thumb on the scale in favor of short-term activists over directors" when it struck down an unprecedented poison pill defense against stockholder initiatives in February.

Investors Fight El Pollo Loco Insider Trading Suit Toss In Del

ADVERTISEMENT ADVERTISEMENT Investors Fight El Pollo Loco Insider Trading Suit Toss In Del. Law360 (April 23, 2021, 4:58 PM EDT) Class attorneys seeking derivative damages for restaurant chain El Pollo Loco over some $118 million in alleged insider trades told a Delaware vice chancellor on Friday that earlier cash settlements targeting the same actions should weigh against a board special committee s call for dismissal. Peter Safirstein of Safirstein Metcalf LLP, counsel for the class representative in the case, told Vice Chancellor Kathaleen S. McCormick that enough material, factual disputes also remain regarding the independence of an EPL board s special litigation committee that recommended dismissal of the suit to justify denial and further discovery.

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