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Email The Delaware Court of Chancery decided two cases recently that may have a significant impact on future corporate action, in each stressing the need for corporate actors to follow statutory requirements, even when in potential tension with market practice. In a decision that may cause controlled companies to revisit existing stockholders agreements, the Delaware Court of Chancery in West Palm Beach Firefighters’ Pension Fund v. Moelis & Co. found certain terms in Moelis & Co.’s stockholders agreement with its founder to be facially invalid. https://www.cadwalader.com/resources/articles/west-palm-beach-firefighters-pension-fund-v-moelis--co-an-affirmation-of-statutory-board-authority