Ulta Beauty store in Baltimore, MD. November 20, 2021. Photo: Diego M. Radzinschi/ALM Ulta Beauty Shareholders Allege Bylaws Violate Delaware Common Law
This suit was surfaced by Law.com Radar. Read the complaint here.
December 19, 2022 at 11:21 AM
1 minute read
Ulta Beauty and members of its board were hit with a stockholder class action Friday in Delaware Court of Chancery. The complaint, filed by Glancy Prongay & Murray; Cooch and Taylor; and Kranenburg, challenges a certain provision in the company's bylaws which stipulates that a director can only be removed from office by a supra-majority of voting shares. The suit argues that these bylaws violate Delaware common law. Counsel have not yet appeared for the defendants. The case is 2022-1162, Gerald Lovoi v. Ulta Beauty, Inc., et al.
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