Credit: boonchok/Adobe Stock Bark's Broad Charter Waives Duty of Loyalty, Shareholder Claims in Suit Raising Novel Issue
If the court ultimately issues a judgment on the question of law raised in the case, it could signal to Delaware corporations at large how sweeping a corporate opportunity waiver is allowed to be.
August 24, 2023 at 03:06 PM
3 minute read
Corporate Governance
Wading into a novel issue for Delaware courts, a class action complaint was filed against Bark Inc. on Wednesday afternoon in the Court of Chancery by a shareholder who claims a waiver in the company's charter gives directors and officers leeway on the duty of loyalty not allowed by Delaware law.
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