Opponents criticized the bill process, saying it was rushed through the legislatures.
The bill was introduced after the Chancery Court's decision in, which invalidated parts of an agreement that gave the investment bank's founder approval rights on major business decisions and board composition.
They also argue that the decision creates uncertainty, and that legislation to bring clarity is necessary. Opponents also worry the bill allows companies to change their governance and boards to give away their authority without shareholder approval or scrutiny.
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