Delaware’s Rapid Corporate Law Overhaul Seeks to Avert Business Exodus and Reduce Litigation Costs

In a significant development for corporate law practitioners, Delaware is rapidly advancing a rewrite of its corporation law. The proposed changes target a reduction in litigation fees while also aiming to restrict certain breach of fiduciary claims. This legislative overhaul is designed in part to stop what is seen as a corporate exodus from the state. The swift pace of this legislative process has left plaintiffs’ attorneys in a challenging position as they scramble to adapt to the changes ahead of the first hearing scheduled for next month.