Institutional constraints have limited the influence of Delaware courts on activist shareholders and executive pay, two of the most important corporate governance issues of the past 30 years, a University of Cambridge law professor told a crowd of corporate attorneys Oct. 17.
The lack of litigation regarding shareholder activism and CEO pay are among the main reasons Delaware’s Court of Chancery and Supreme Court have remained largely silent on both issues, said Brian R. Cheffins, a professor of corporate law at the University of Cambridge in England. Cheffins was the keynote speaker at the Francis G. Pileggi Distinguished Lecture in Law sponsored by Widener University School of Law.
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