The 80s called—they want their shoulder pads, synth-pop, moon-walks and, apparently, their blanket prohibition on midstream recapitalizations back. For more than three decades, a doctrinal relic from the leveraged-buyout fever of that era has quietly blocked shareholders from rearranging their capital structure midstream, even when those deals are demonstrably fair and value-maximizing. Though a relic, […]

Source: Harvard Law School Forum on Corporate Governance

Published: 2026-08-08T11:30:21Z