8-KCorporate ChangesExhibits & Filings

AT&T INC. 8-K Report, Bylaw Amendment (Jul 3, 2019)

Filed July 3, 2019For Securities:TT-PCTBBT-PA

Summary

AT&T Inc. (T) filed an 8-K report on July 2, 2019, disclosing an amendment to its Bylaws that became effective on June 28, 2019. The primary change introduces a new Article VI, establishing exclusive forum selection for certain legal proceedings. Specifically, the company has designated the Court of Chancery of the State of Delaware, or alternatively, the United States District Court for the District of Delaware, as the sole venue for specific types of lawsuits against the company. This bylaw amendment is intended to streamline and centralize litigation related to corporate governance matters. By requiring certain actions to be brought in Delaware courts, AT&T aims to ensure consistency in legal interpretations and potentially reduce litigation costs and complexities associated with multiple jurisdictions. Investors should be aware that this change dictates where specific legal disputes must be addressed, impacting the procedural aspects of any future shareholder litigation.

Key Highlights

  • 1AT&T Inc. amended its corporate Bylaws, effective June 28, 2019.
  • 2A new Article VI, titled 'Forum,' was added to the Bylaws.
  • 3The amendment designates exclusive state and federal courts in Delaware as the required venue for specific legal actions.
  • 4Lawsuits must be brought before the Court of Chancery of the State of Delaware.
  • 5If the Court of Chancery lacks jurisdiction, the United States District Court for the District of Delaware is the alternative venue.
  • 6This change aims to centralize and standardize litigation related to corporate governance.
  • 7The full text of the amended Bylaws is attached as an exhibit to the 8-K filing.

Frequently Asked Questions

The main purpose of the Bylaws amendment is to establish an exclusive forum selection for certain types of legal actions against AT&T Inc. This means that specific lawsuits must be filed in designated Delaware courts, aiming to centralize litigation and ensure consistency.

The designated exclusive forums are the Court of Chancery of the State of Delaware. If that court does not have jurisdiction over a particular matter, the United States District Court for the District of Delaware is the alternative venue.

This amendment dictates where shareholders must bring specific types of legal actions against the company. It may streamline legal processes and potentially reduce litigation costs for the company, but it restricts the choice of venue for shareholders initiating such lawsuits.

No, this amendment is related to corporate governance and legal procedures. It does not directly alter AT&T's core business operations, services, or financial performance as reported in this 8-K filing.