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Delaware Court Upholds Moelis Control, Amends Corporate Law

1/21/2026

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Summary

Story summary

The Delaware Supreme Court ruled a Moelis & Co shareholder cannot challenge an agreement granting Ken Moelis control of the bank's board.
The ruling reverses a prior decision that unsettled concerns about Delaware's business image.
The court found the West Palm Beach Firefighters' Pension Fund was not entitled to sue over the 2014 agreement for timing.
Delaware lawmakers have amended corporate law to safeguard stockholder agreements, limiting the ruling's impact.

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Story summary

The Delaware Supreme Court ruled a Moelis & Co shareholder cannot challenge an agreement granting Ken Moelis control of the bank's board.
The ruling reverses a prior decision that unsettled concerns about Delaware's business image.
The court found the West Palm Beach Firefighters' Pension Fund was not entitled to sue over the 2014 agreement for timing.
Delaware lawmakers have amended corporate law to safeguard stockholder agreements, limiting the ruling's impact.