It’s been 10 days since Senate Bill 21, which proposes a number of changes to Delaware’s corporate law, was introduced. Almost immediately, litigators began sharing their perspectives on the bill and its potential impact.
The views expressed online since the bill’s introduction agree its passage would have an extensive impact on Delaware corporations and their stockholders, but perspectives are divided on whether those effects would be positive or negative. The debate, like the one over last year’s DGCL amendments, has in general pitted the plaintiffs bar and defense bar against each other, with the former arguing the proposed changes are an unwarranted upheaval of Delaware’s judicially-driven system and the latter claiming they’re a welcome correction to recent court decisions that put the state at risk of facing “DExit.” Some defense firms have issued client alerts lauding the bill, while others have opted to provide a rundown of the proposed changes without weighing in on their pros and cons.