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SOLAK v. SAROWITZ

C.A. No. 12299-CB.

153 A.3d 729 (2016)

John SOLAK, on behalf of himself and all other similarly situated stockholders of Paylocity Holding Corporation, Plaintiff, v. Steven I. SAROWITZ, Mark H. Mishler, Steven R. Beauchamp, Ronald V. Waters III, Andres D. Reiner, Jeffrey T. Diehl, and Paylocity Holding Corporation, Defendants.

Court of Chancery of Delaware.

Date Decided: December 27, 2016.

Attorney(s) appearing for the Case

Peter B. Andrews , Craig J. Springer , and David M. Sborz of ANDREWS & SPRINGER LLC, Wilmington, Delaware; Attorneys for Plaintiff.

John L. Reed , Ethan H. Townsend , and Harrison S. Carpenter of DLA PIPER LLP (US), Wilmington, Delaware; Attorneys for Defendants.

OPINION

In 2015, Section 115 was added to the Delaware General Corporation Law ("DGCL") codifying this Court's decision in Boilermakers Local 154 Retirement Fund v. Chevron Corp.1 that Delaware corporations may adopt bylaws requiring that internal corporate claims be filed exclusively in...

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