On April 16, 2024, The Delaware Court of Chancery announced that it has granted expedited discovery into a breach of fiduciary duty claim against the Board of Directors of Crown Castle Inc. for expanding the number of board seats in the critical, late stages of an ongoing proxy contest by investment vehicle Boots Capital Management LLC. Vice Chancellor J. Travis Laster stated that Boots Capital had presented a colorable claim that the Company's Board's actions contravened their fiduciary duties under Delaware law when the incumbent directors expanded the number of seats from 12 to 13 after the appointment of a new CEO on April 10 and added that there is threat of irreparable harm in changing the rules in the midst of a proxy contest. The Court granted expedited discovery and a preliminary injunction hearing to be scheduled in early May, at which point the Court will assess Boots Capital's preliminary injunction motion, which will seek potential remedies including a potential delay of the May 22 annual meeting.

Vice Chancellor Laster mentioned that he had previously ordered, on March 8, that the Company and its Board should give prior notice to Boots Capital if they were to undertake any material corporate action that would affect the proxy contest. Boots Capital views the Board willfully ignored the directives of the Court, which resulted in its latest challenge and added that it supports the appointment of Steven J. Moskowitz as new CEO, but when adding Moskowitz as both executive and new director, the Board did not reduce the board's overall size, electing to retain director and interim CEO Anthony Melone, who had been in his role since January 16. That action expanded the number of directors to 13 in the critical, late stages of the proxy contest, thus changing the rules and affecting the fairness of director elections and the Company continues to pay Mr. Melone extra compensation as a Special Advisor to the President and CEO, in addition to its continued payment of prior CEO Jay Brown, who was awarded a six-month consulting contract upon his resignation in January.