On February 27, the Delaware Supreme Court unanimously upheld the constitutionality of the state’s major revision to the Delaware General Corporation Law (DGCL) that fundamentally changed the rules for transactions between corporations and their controlling stockholders. Given the varying states of incorporation employed by companies that do business in North Carolina, a compliance check by inside and outside counsel may well be appropriate.

Our Delaware-based corporate litigation partner, Kasey DeSantis, breaks down the court’s decision and some of its ramifications here.