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Shareholders sue 9 companies over “exclusive forum” bylaws

Chevron, Navistar, Priceline and others named as defendants

Nine companies are suffering the legal consequences of disappointing their shareholders.

Yesterday, shareholders sued Autonation Inc., Chevron Corp., Curtis Wright Corp., Danaher Corp., Franklin Resources Inc., Navistar International Corp., Inc., SPX Corp. and Superior Energy Services Inc. for implementing bylaws requiring shareholders to bring lawsuits exclusively in the Delaware Court of Chancery. The shareholders claim the companies adopted the bylaws to shield directors from liability.

Ashley Post

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