The Delaware Court of Chancery, in Sylebra Capital Partners Master Fund, Ltd., et al. v. Ronald Perelman, et al. [Scientific Games], C.A. No. 2019-0843-JRS, memo. op. (Del. Ch. Oct. 9, 2020), found defendant corporation’s Nevada forum selection bylaw, adopted in connection with the former Delaware corporation’s reincorporation in Nevada, was enforceable against plaintiff who purchased its shares when the company was incorporated in Delaware and could not sell its shares before the forum selection bylaw was adopted.
NEW: Frank Reynolds discusses the decision in Chancery says it’s the wrong venue for claim that Perelman misused gaming company’s bylaws.
Keith Bishop discusses the decision in Why Are Stockholders Of A Nevada Corporation Invoking The DGCL?
$$$ Law360 discusses the decision in Chancery Says Forum Bylaw Nixes Suit On Perelman ‘Scheme’.