Lightpath Technologies (LPTH) has released an update.
In a significant move to validate past corporate actions, a company sought the approval of the Delaware Court of Chancery to legitimize various amendments made to its certificate of incorporation. These actions ranged from stock conversions and splits to the increase in authorized shares of different classes of stock. This step was necessary due to potential non-compliance with the Delaware General Corporation Law and previous misstatements about voting by brokers. The court’s hearing on January 30, 2024, resulted in the company’s petition being granted, affirming all the contested corporate acts.
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For a comprehensive understanding of the announcement, you can read the full document here.
