Blue Apron Holdings Inc., Roku Inc., and Stitch Fix Inc. must each pay $1 million in attorneys’ fees to the shareholder who successfully challenged corporate charter provisions requiring securities suits against them to be filed federal court.
Matthew Sciabacucchi won a Delaware Chancery Court ruling last year striking down those restrictive clauses, which all three companies included in their original charters when going public.
Vice Chancellor J. Travis Laster held in December that Delaware law permits forum selection clauses only for “internal” issues relating to corporate governance, not for “external” matters like securities suits that involve market behavior. The companies ...
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