Once a niche corporate form, the Delaware public benefit corporation (PBC) has become an increasingly significant feature of the corporate landscape, having been adopted by a number of prominent companies, including highly valued private issuers and established public companies. Until two days ago, however, the PBC statute had generated almost no case law on what PBC directors owe their stockholders in a sale of control. That has now changed.
Harrison A. Korn
Partner, Washington, D.C.
+1 202.887.3736
Harrison A. Korn is a partner in the Washington, D.C. office of Gibson Dunn, where he is a member of the firm’s Transactional Department.