Wading into a novel issue for Delaware courts, a class action complaint was filed against Bark Inc. on Wednesday afternoon in the Court of Chancery by a shareholder who claims a waiver in the company’s charter gives directors and officers leeway on the duty of loyalty not allowed by Delaware law.

Cooch and Taylor, Glancy Prongay & Murray and London attorney Werner R. Kranenburg are representing a shareholder in the case against New York-based Bark Inc., which produces toys and other products for dogs, and its board, claiming Bark’s charter runs against Delaware law by including a blanket waiver of the corporate opportunity doctrine, the law preventing directors and officers from pulling business opportunities away from the corporation they represent in order to take advantage of them personally.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]