On Wednesday, Fox Corp. and Snap Inc. won on appeal against two shareholder lawsuits that contested charter provisions the companies had implemented. These provisions protect high-ranking executives, including entrepreneur Rupert Murdoch, from certain forms of legal accountability.
The Supreme Court of Delaware dismissed parallel lawsuits initiated by individual investors of Snap and a pension fund that owns Fox shares late in 2022. The court’s decision supported last year’s ruling, in which the judge controversially articulated uncertainties about his thinking and encouraged the shareholders to appeal.
Writing for the primary court, Chief Justice Collins J. Seitz Jr. stated that the two companies did not behave improperly…