The Delaware Court of Chancery has again affirmed the validity of exclusive forum bylaws.  This time the bylaw selected North Carolina, and not Delaware, as the forum.  By honoring a choice of forum outside of Delaware, the case helps pave the way for a wider acceptance of exclusive forum bylaws.  The case also suggests that an exclusive forum bylaw may be adopted on the eve of a merger, thus increasing the usefulness of these bylaws as a defense against multijurisdictional litigation in connection with a change of control transaction. Read more