This year had it all in Delaware: new personnel; thwarted legislation; and important new jurisprudence. The state’s Supreme Court saw unprecedented turnover, and the Court of Chancery got a new Chancellor, or head judge. An opinion in an obscure case involving the Association of Tennis Professionals inspired a controversy over so-called fee-shifting bylaws that has implications for other kinds of bylaws and charter provisions. And Vice Chancellor J. Travis Laster’s decision in a shareholder suit against Rural/Metro Corp. took an aggressive stance on the issue of bankers’ aiding and abetting violations of fiduciary duty by corporate directors, though it’s unclear if other judges will follow him.
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