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Harrison A. Korn

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Delaware Court of Chancery Holds That Statutory Safe Harbor Protects PBC Directors and Revlon’s Stockholder-Value-Maximization Mandate Does Not Apply to PBCs

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…