Fee Shifting Bylaws in Delaware: The Facts on the Ground (Part 7)
Why did the company adopt the bylaw when it did? The record contained this explanation. At the hearing, counsel for the company had this to say: "Just one comment on the timing of the bylaw. While the assertion is that we adopted it in the--the client adopted it in July to apply to them, the timing was that after ATP came out and the Legislature then did not act, only then did our client adopt the bylaw."
Primary materials, including the hearing transcript, in Kastis v. Carter can be found at the DU Corporate Governance web site.