JOBS Act Changes Reduce Benefits of Equity
The Securities Law Prof Blog pointed us to a paper by Professor Sean O'Connor of the
University of Washington School of Law that argues that the
"the JOBS Act relaxed disclosure and general solicitation
rules for the kinds of unregistered stock offerings currently used
by start-ups. This means that there may be less practical value for
start-ups to explore crowdfunding."
Litigation Becoming Standard in M&A[United States]
Over at The New York Times, DealBook's Deal Professor,
Steven Davidoff, reports on research he undertook that shows
that litigation is being instituted in almost all cases where a
takeover is announced. Much of it involves disclosure, leading to
criticisms that the only parties benefitting are the lawyers. On
the positive side, Davidoff notes "[it] is also a boon to
buyers, who are no longer liable for future claims from
shareholders. This is not a bad insurance policy for $500,000 or
so." Seeing anything approaching this prevalence of lawsuits
in Canada would seem unlikely, but stranger things are known to
happen. The D&O Diary blog has some additional thoughts on the
research here, where the impact of large cash
settlements on D&O insurance and insurers is touched on.
Your Coffee Habit Ain't So Bad![United
A story at NPR.org reports on research at the
University of Birmingham in the U.K. that concludes that
coffee's hydrating qualities are similar to those of water. If
that's not enough, ScienceDaily has a story this week on research
at Johns Hopkins that finds that coffee is beneficial to long term
memory. The research, published in the journal Nature Neuroscience, concluded that
"caffeine enhances certain memories at least up to 24 hours
after it is consumed."
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Under the Income Tax Act, the Employment Insurance Act, and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions or GST.
Under the Income Tax Act, the Employment Insurance Act, the Canada Pension Plan Act and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions.
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