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Email In a December 21, 2015 transcript ruling, the Delaware Chancery Court invalidated the provisions of VAALCO Energy, Inc.’s charter and bylaws that allow for removal of directors only “for cause” even though VAALCO’s board is not classified. Vice Chancellor Laster ruled that the charter and bylaw provisions conflicted with the plain reading of Section 141(k) of the Delaware General Corporation Law, which states that stockholders may remove directors from the board with or without cause except where the board is classified or directors are elected by cumulative voting. https://www.cadwalader.com/resources/clients-friends-memos/delaware-chancery-court-invalidates-charter-and-bylaw-provisions-allowing-only-for-cause-removal-of-directors-where-board-is-not-classified