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In an order granting plaintiffs’ motion for judgment on the pleadings in Schroeder v. Buhannic, C.A. No. 2017-0746-JTL, Order (Del. Ch. Jan. 10, 2018), Vice Chancellor J. Travis Laster held that a provision in a stockholders agreement that purported to limit the board’s authority to select the company’s chief executive officer was ineffective because it conflicted with the Delaware General Corporation Law.
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