News & Events

Partners Stephen Blake and Chris May were quoted in an Agenda article, which discussed the Texas Business Court’s recently adopted governance-focused amendments aimed at bringing more predictability to board members by placing limits on shareholder litigation and providing a new path for director independence determinations. Stephen noted that while “there remains an ongoing dialogue about competition, and both Texas and Nevada are clearly taking steps to try and challenge Delaware’s dominance in corporate law,” Delaware remains the clear leader in incorporations for public companies. When discussing how Texas’ legislation differs from the new approach created in Delaware, Chris noted that the benefits of Delaware’s streamlined director independence determinations may be difficult to see in practice because the board has to make the request to the court in advance. “[The] independence determination hearings effectively require public notice for publicly traded corporations and such corporations may not want to telegraph that they are considering a potential transaction,” he said.  

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