Item 5.03 |
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year.
|
On December 15, 2020, the Board of Directors of BioMarin
Pharmaceutical Inc. (the “Company”) approved the amendment and
restatement of the Company’s Amended and Restated Bylaws (the
“Bylaws”), effective as of such date, in order to clarify that the
Company may hold meetings of stockholders by means of remote
communication and describe related procedures, update provisions
regarding the manner of giving notice of meetings as a result of
changes in Delaware law, clarify the type of business that may be
transacted at special meetings, update the Company’s Delaware forum
selection provision and implement a federal forum selection
provision.
The Company’s Delaware forum selection provision was updated to
provide that, unless the Company consents in writing to the
selection of an alternative forum, the Court of Chancery of the
State of Delaware (or, if and only if the Court of Chancery of the
State of Delaware lacks subject matter jurisdiction, any state
court located within the State of Delaware or, if and only if all
such state courts lack subject matter jurisdiction, the federal
district court for the District of Delaware), and any appellate
court therefrom shall, be the sole and exclusive forum for the
listed claims or causes of action under Delaware statutory or
common law, which list has been revised to add (i) any claim
or cause of action seeking to interpret, apply, enforce or
determine the validity of the certificate of incorporation or the
bylaws of the Company (as each may be amended from time to time,
including any right, obligation, or remedy thereunder) and
(ii) any claim or cause of action as to which the General
Corporation Law of the State of Delaware confers jurisdiction to
the Court of Chancery of the State of Delaware. The Delaware forum
selection further provides that such forum selection is to the
fullest extent permitted by law and subject to the court’s having
personal jurisdiction over the indispensable parties named as
defendants, and clarifies that it shall not apply to claims or
causes of action brought to enforce a duty or liability created by
the Securities Act of 1933, as amended, the Exchange Act of 1934,
as amended, or any other claim for which the federal courts have
exclusive jurisdiction.
The federal forum selection provision provides that unless the
Company consents in writing to the selection of an alternative
forum, to the fullest extent permitted by law, the federal district
courts of the United States of America shall be the exclusive forum
for the resolution of any complaint asserting a cause of action
arising under the Securities Act of 1933, as amended.
The Bylaws provide that any person or entity holding, owning or
otherwise acquiring any interest in any security of the Company
shall be deemed to have notice of and consented to the
above-described exclusive forum provisions.
The foregoing summary of the Bylaws is qualified in its entirety by
reference to the complete text of the Bylaws, a copy of which is
attached hereto as Exhibit 3.1 and incorporated herein by
reference.
Item 9.01 |
Financial Statements and Exhibits.
|
|
|
|
Exhibit
Number |
|
|
|
|
3.1 |
|
Amended
and Restated Bylaws. |
|
|
104 |
|
Cover Page Interactive Data File -
the cover page XBRL tags are embedded within the Inline XBRL
document. |