Legislative updates

Assembly Bill 897, effective June 1, 2018, amends provisions of the corporation law relating to the fees for the certificate of authority, withdrawal, and annual report of a foreign corporation that qualifies as a qualified new business venture that is certified under Sec. 238.15 (1).
Senate Bill 298, effective February 26, 2018, creates a new category of business corporation identified as a benefit corporation. A benefit corporation shall have a purpose of creating general public benefit. A general public benefit is a material positive impact on society and the environment through activities that promote some combination of specific public benefits.

Case summaries

Shareholder Suit
Arrowhead Systems, Inc. v. Grant Thornton LLP, No. 2019AP2268, decided October 15, 2020. The Wisconsin Court of Appeals held that the rule that denies standing to shareholders to bring direct claims seeking redress for injuries to the corporation applies even where the corporation was an S corporation with a sole shareholder who was claiming harm due to the corporation’s accountant’s tax strategy.

State notices

There are no new notices at this time.