A day earlier, on December 13, 2017, Delaware’s highest court issued its decision in In re Investors Bancorp, Inc. Stockholder Litigation, Case No. 169, 2107, providing the Delaware Supreme Court’s first refinement of Delaware law regarding ratification of director self-compensation in nearly 60 years. The court ruled that directors were not entitled to stockholder ratification defense where stockholders only approved the general parameters of director and employee bonuses. With this decision, corporate directors are now on notice to provide complete details if they intend to seek stockholder approval of self-dealing actions. To read more, click here.
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