Delaware Supreme Court Justice Jacobs to retire

April 1 Tue Apr 1, 2014 12:09pm EDT

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April 1 (Reuters) - Delaware Supreme Court Justice Jack Jacobs notified the state's governor that he planned to retire on July 4, according to Stephen Taylor, a spokesman for the court.

Jacobs has been on the court, which plays an important role in Wall Street dealmaking, since 2003. He previously spent 18 years on the Court of Chancery, the state's nationally recognized venue for shareholder disputes.

Neither the governor's spokeswoman nor Jacobs immediately responded to a request for comment.

The state's highest court has the final say on Delaware corporate law, which governs a majority of U.S.-listed corporations.

Last month, for example, the court held that buyouts of companies by controlling shareholders could be subject to less rigorous court review if certain protections are in place for minority shareholders.

Delaware's Supreme Court lineup was unchanged for nine years until Myron Steele retired last year as chief justice. He was replaced by the Leo Strine, who had been chief judge on the Court of Chancery.

Many in Delaware's tight-knit law community have speculated that the four remaining justices might be more likely to consider retirement after Steele's departure. (Reporting by Tom Hals in Wilmington, Delaware; Editing by Lisa Von Ahn)

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