Equity Offers No Forgiveness if Statutes Are Skirted
December 15, 2010
Delaware Law Weekly
Types : Bylined Articles
The Court of Chancery’s recent post-trial opinion in Blades v. Wisehart drives home a point grounded in Delaware Supreme Court precedent decided two decades ago: Strict compliance with statutory requirements is necessary in transactions involving changes to the capital structure of Delaware corporations. Under Blades, decided by Vice Chancellor Leo E. Strine on Nov. 17, forward stock splits fall squarely within this mandate.