Business
Barnwell Announces Delaware Court of Chancery Rules in Favor of Barnwell and its Board of Directors
Barnwell Industries, Inc. (NYSE American: BRN) ("Barnwell" or the "Company") today announced that the Delaware Court of Chancery (the "Court") has ruled in favor of Barnwell and its Board of Directors in determining that the director nomination notice submitted by Ned Sherwood and certain of his affiliates (the "Sherwood Group") in connection with the Company's 2025 Annual Meeting of Stockholders was deficient and did not comply with the Company's bylaws. As a result, the Company will disqualify
About this update from Barnwell Industries, Inc.
[{"type":"text","content":"Court Agrees Board Acted Reasonably to Reject Sherwood's Director Nominations for Failure to Comply with Bylaws","length":115,"tagName":"p","attribs":{}},{"type":"text","content":"Uncontested 2025 Annual Meeting to be Held as Scheduled on May 29, 2025","length":71,"tagName":"p","attribs":{}},{"type":"text","content":"Alex Kinzler Informs Board of His Decision Not to Stand for Election at the 2025 Annual Meeting","length":95,"tagName":"p","attribs":{}},{"type":"text","content":"HONOLULU, May 22, 2025 /PRNewswire/ -- Barnwell Industries, Inc. (NYSE American: BRN) ("Barnwell" or the "Company") today announced that the Delaware Court of Chancery (the "Court") has ruled in favor of Barnwell and its Board of Directors in determining that the director nomination notice submitted by Ned Sherwood and certain of his affiliates (the "Sherwood Group") in connection with the Company's 2025 Annual Meeting of Stockholders was deficient and did not comply with the Company's bylaws. As a result, the Company will disqualify the Sherwood Group's nominees from standing for election at the 2025 Annual Meeting, which will be held as an uncontested election on its currently scheduled date of May 29, 2025.","length":771,"tagName":"p"},{"type":"image","alt":"Barnwell Industries, Inc. Logo (PRNewsfoto/Barnwell Industries, Inc.)","displaySize":"","headline":null,"caption":"Barnwell Industries, Inc. Logo (PRNewsfoto/Barnwell Industries, Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":299,"url":"https://media.zenfs.com/en/prnewswire.com/36ba71b7108766e191dafc860d4b7331"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/PgYkMc89.0aTOPv8RtAtiA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTUyNztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/36ba71b7108766e191dafc860d4b7331","width":400,"height":299}},"href":"https://mma.prnewswire.com/media/2689871/Barnwell_Industries_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Joshua Horowitz, independent director of the Board of Barnwell and Chairman of the Nomination and Executive Committees, stated, "We are pleased that the Court ruled in favor of the Company and the Board and upheld our application of the plain language of Barnwell's bylaws regarding the submission of director nomination...