Foley Attorneys Highlighted for Role in Shaping Texas Corporate Law Reforms

Foley & Lardner partners Christopher Babcock and Christopher Converse are featured in the D CEO article, “These Laws Are Reshaping Texas’ Business Landscape,” for their instrumental role in shaping Texas Senate Bill 29, a landmark piece of legislation that strengthens the state’s corporate legal framework.

The article highlights how Babcock and Converse helped draft and advocate for SB29, which introduces protections for corporate boards and raises thresholds for shareholder litigation.

Converse emphasized the strategic timing of the bill. “We saw an opportunity with the advent of the business courts to marry them with an innovation of our Texas corporate code,” he explained. “To attract companies to incorporate in a jurisdiction, you need a clear set of rules — and a specialized expert or a business court.”

Noting how SB29’s fosters a more predictable legal environment for businesses through raising the threshold for shareholders to challenge good faith decisions by a public company’s board, Babcock added, “Corporate decision-making should be controlled by shareholders and their elected boards—not by third-party activists who hijack the mechanisms of corporate governance for their own enrichment.”