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DELAWARE'S SUPREME COURT AND COURT OF CHANCERY NAMED AS MOST INFLUENTIAL IN CORPORATE GOVERNANCE

The Directorship concluded that the: “Delaware courts are seen as fair and reasonable with the most efficient litigation practices, and their influence on corporate governance matters rivals that of the SEC or Congress.”

In its September 2007 issue, the Directorship, a leading magazine for public company board directors, named the Delaware Courts — the Court of Chancery and the Supreme Court — on its list of the most influential individuals and institutions that are shaping agendas in boardrooms across America. In placing the Delaware Courts as number 5 on its list of the top 100 influential players in corporate governance, the Directorship noted that the Delaware Courts have frequently “established the tone and legal direction of corporate governance in America” and that the Court of Chancery is often referred to as ‘the chief arbiter of right and wrong in Corporate America.” No other courts were included in the top Directorship 100.

Chief Justice Myron T. Steele’s “keen leadership” and Chancellor William B. Chandler III’s “level-headed decisions” were highlighted as both were recognized as influential in the corporate governance area, along with the Delaware Courts. Former Chief Justice E. Norman Veasey’s contributions during his tenure as chief justice were also recognized.

The Directorship 100 was compiled by the editors of the Directorship magazine based on input from a reader survey and a panel of 12 corporate governance experts. Chief Justice Steele and Chancellor Chandler were recognized at a luncheon on December 11, 2007 at the Union League in New York City. Directorship is a bi-monthly magazine written for corporate board members and executives and is owned and published by NewsMarkets LLC, a privately held media company based in Boston.

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