Court of Chancery of Delaware

In a dispute over whether a stockholder proposed bylaw that sought to limit the authority of a board of directors to enact a stockholder rights plan of unlimited duration was valid under Delaware law, plaintiff's request for declaratory relief is denied without prejudice where the proposed bylaw had not yet been adopted by stockholders and no other compelling justification existed to trigger the court's jurisdiction, rendering the issue unripe for consideration.

Appellate Information

• Decided 06/22/2006
• Published 07/05/2006

Judges

Court

• Court of Chancery of Delaware

Counsel

• For Appellant:
  
• Jay W. Eisenhofer, Esquire, Stuart M. Grant, Esquire, Michael J. Barry, Esquire, P. Bradford deLeeuw, Esquire, Grant & Eisenhofer, Wilmington, Delaware, Attorneys for the Plaintiff.


• For Appellees:
  
• Raymond J. DiCamillo, Esquire, Elizabeth C. Tucker, Esquire, Addie P. Asay, Esquire, Richards, Layton & Finger, Wilmington, Delaware;  James C. Morphy, Esquire, Robert J. Giuffra, Jr., Esquire, Sullivan & Cromwell, New York, New York, Attorneys for the Defendant.