Citizens for Judicial Fairness Backs Delaware Legislation Reforming Laws Governing Court of Chancery

DOVER, Del.--(BUSINESS WIRE)--Today, Community Activist Keandra McDole, released the following statement in Support of Chancery Court Reform through Delaware State Senate Bill 313:

“As Delaware Senate Bill 313 – aimed at reforming just a small piece of Delaware's archaic corporate laws governing the Court of Chancery – progresses, we stand in full support of the measure and we are compelled to voice my strong support for this pivotal legislative effort.

“As the nation’s most trafficked business court, the beleaguered Delaware Court of Chancery maintains an outsized stranglehold reputation as a bastion of corporate law and is in need of radical reform however it may come. The court has expanded its role long beyond its legal means.

“For years, CJF has advocated for reforms, including transparency measures and financial disclosures from justices, to no avail. Now, however, this legislation represents a small step forward in reigning in the unchecked power of the Chancery Court.

“Delaware's position as a premier jurisdiction for corporate litigation hinges on its ability to adapt and innovate. The reason states like Nevada and Texas have made great strides in passing the First State in recent years are due to Delaware’s legislative complacency in the face of the Court of Chancery’s judicial activism.

“While the measure’s detractors, including Chancery Chancellor McCormick, believe this law could threaten over 230 years of corporate leadership & 37% of state revenues, we say it’s time for a change, and that the only thing threatening state revenues are the glaring inequalities embedded deep in our legal system.

“I urge the members of the House to seize this opportunity to enact meaningful change by swiftly passing this legislation and seizing on the momentum for Chancery Court reform. Together, we can uphold Delaware's legacy of excellence in corporate law and reinforce our commitment to judicial fairness.”