Companies have another item on the to-do list as they prepare for next year’s proxy season: reviewing their advance notice bylaw provisions.
Several court decisions this year, two in Delaware and one in federal appeals court, could trip up companies that aren’t paying attention, legal experts say. Usually corporate bylaws require shareholders to give advance notice of their intent to introduce business at the annual shareholder meeting, so the companies can get a heads-up to possible trouble and develop response plans.
