Justine Y. Drohan

Associate Attorney, New York

+1 212.351.5375

Justine Drohan is a litigation associate in the New York office of Gibson Dunn.

In a Decision of First Impression, the Court of Chancery Applies Amended Section 144’s “Heightened” Director Exchange-Based Independence Presumption

July 1, 2026 | Posted by Colin B. Davis; Jonathan D. Fortney; Mark H. Mixon Jr.; Justine Y. Drohan Topic(s): Corporate Governance; M&A

The decision provides meaningful guidance on the interaction between Section 144’s new “heightened” presumption—that directors deemed independent under applicable national securities exchange rules are also presumed to be disinterested under Section 144—and Court of Chancery Rule 23.1’s well-established demand-futility standard.