As we have previously discussed, there has been a growing trend of corporations’ adopting various types of bylaws to define the bounds of shareholder litigation. These include forum-selection bylaws (see here) and fee-shifting bylaws (now prohibited in Delaware for stock corporations as discussed here). A novel approach, utilized by at least three Florida corporations, is a minimum-stake-to-sue bylaw that requires shareholders to hold a certain minimum percentage of a company’s outstanding shares to bring a class action or derivative suit... Continue Reading