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Chancery Ruling Holds Authorized Share Takeaways For Cos.

By Robin Wechkin ( February 28, 2025, 1:30 PM EST) -- Recent legislation in Delaware has eased the path of boards of directors who want to increase the number of a corporation's authorized shares. In Salama v. Simon, the Delaware Chancery Court on Nov. 27 concluded that the General Assembly's most recent effort in this area, made in 2023, has yielded an ambiguous statute.[1]...

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