For the first time, the Court of Chancery has decided a company’s board can refuse to put potential directors up for election if certain disclosures aren’t made in a nomination notice.

Vice Chancellor Joseph R. Slights III found Wednesday shareholders hadn’t met the notice requirements outlined in Vancouver, Washington-based biotech company CytoDyn Inc.’s bylaws, giving directors the authority to decline putting a slate of five proposed directors on its ballot later this month, despite the notice being filed before deadline.