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IN RE FOX CORPORATION/SNAP INC.

Nos. 120 & 121, 2023 (Consolidated).

312 A.3d 636 (2024)

IN RE FOX CORPORATION/SNAP INC. Section 242 Litigation.

Supreme Court of Delaware.

Decided: January 17, 2024.

Revised: January 25, 2024.

Attorney(s) appearing for the Case

Gregory V. Varallo, Esquire , Daniel E. Meyer, Esquire , BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP, Wilmington, Delaware; Mark Lebovitch, Esquire , Edward G. Timlin, Esquire (argued), BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP, New York, New York for Appellants Electrical Workers Pension Fund, Local 103, I.B.E.W. and Karen Sbroglio.

William B. Chandler III, Esquire , Brad D. Sorrels, Esquire (argued), Amy L. Simmerman, Esquire , Daniyal M. Iqbal, Esquire , Nora M. Crawford, Esquire , WILSON SONSINI GOODRICH & ROSATI, P.C., Wilmington, Delaware; Mark R. Yohalem, Esquire , WILSON SONSINI GOODRICH & ROSATI, P.C., Los Angeles, California for Appellee Fox Corporation.

William M. Lafferty, Esquire , Susan W. Waesco, Esquire , Alexandra M. Cumings, Esquire , MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware for Appellee Snap Inc.

Before SEITZ, Chief Justice; VALIHURA, TRAYNOR, LEGROW, and GRIFFITHS, Justices; constituting the Court en Banc.

Section 242(b)(2) of the Delaware General Corporation Law requires a separate class stockholder vote to amend a corporate charter with a multi-class capital structure if the amendment would "alter or change the powers, preferences, or special rights of the shares of such class so...

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