Fox Corp. and Snap Inc. prevailed Wednesday in lawsuits challenging liability shields for senior executives in new charter amendments.
Vice Chancellor J. Travis Laster, in a ruling from the bench, granted the companies’ motions for summary judgment in the coordinated cases in Delaware’s Chancery Court. The lawsuits by investors alleged the charters were changed without a vote from class A investors unaffiliated with the companies’ financial backers.
Source: Fox, Snap Beat Investors in Executive Liability Shield Challenge
