Important Update on Issues Affecting Corporate Governance

The North Carolina Chamber and Smith Anderson Presented a Live Webinar on November 12, 2014.

Important Update on Issues Affecting Corporate Governance  

One of the four pillars of the NC Chamber's North Carolina Vision 2030 is to maintain and improve a Competitive Business Climate. Significant developments affecting corporate governance occurred this past legislative session through Senate Bills 648 and 853. Also, very recently, an important case from the Delaware Chancery Court recognized the ability of our companies to require that shareholder lawsuits against them be brought in North Carolina. Whether incorporated in North Carolina or in another state, we believe businesses should consider adoption of a bylaw provision specifying where intra-corporate litigation must be brought. This new risk management tool, coupled with other new options created by SB 648 and 853, will help to improve our business climate. Smith Anderson worked with the Chamber to advance the legislation, was involved in the Delaware case and provided an update on these issues.