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Cooley LLP
On October 19, a federal district court judge held a hearing on a motion for a preliminary injunction in Meland v. Weber, a case challenging SB 826, California's board gender diversity statute, on the...
Allen Matkins Leck Gamble Mallory & Natsis LLP
In seeking dismissal of a federal court challenge to California's director quota mandates, the California Secretary of State argues "SB 826 and AB 979 guarantees that a corporation can...
Mayer Brown
On October 14, 2021, the U.S. Department of Labor (the "DOL") published a proposed regulation entitled "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights" (the "Proposed Rule").
Allen Matkins Leck Gamble Mallory & Natsis LLP
Chapter 5 of the California General Corporation law prohibits a distribution to shareholders unless certain conditions are met.
Mintz
During the past several years, public companies have come under increasing pressure from investors and society at large to use their resources and influence for broad and meaningful social impact.
Cooley LLP
Who could resist an article with this title—Are Narcissistic CEOs All That Bad?—from the Rock Center for Corporate Governance at Stanford University?...
Mayer Brown
On October 14, 2021, the U.S. Department of Labor (the "DOL") published a proposed regulation entitled "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights"
Katten Muchin Rosenman LLP
Stable Road And Momentus Close Business Combination. On August 11, Stable Road Acquisition Corp., a special purpose acquisition company (SPAC), announced that its shareholders...
Katten Muchin Rosenman LLP
On August 19, hedge fund magnate Bill Ackman released a letter to shareholders announcing plans to potentially unwind the SPAC he launched last year, Pershing Square Tontine Holdings, Ltd. (Tontine)...
Cadwalader, Wickersham & Taft LLP
The DOL proposed amendments to ERISA Rules to clarify the application of ERISA's fiduciary duties of prudence and loyalty to selecting investments and investment courses of action.
Groom Law Group
On October 14, 2021, the Department of Labor (the "DOL") published a proposed regulation, "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights"...
Cadwalader, Wickersham & Taft LLP
Ms. Lee called on the SEC to address the new opacity in the U.S. equities markets in light of the "explosive growth" of the private markets.
Mayer Brown
Once again, it is time to prepare for the proxy and annual report season. There are many issues to take into consideration when crafting required regulatory disclosures in a manner...
Jones Day
In a significant victory for policyholders, this past week the Eastern District of Virginia rejected insurers' attempt to apply their D&O policies' so-called "bump-up" exclusions to bar coverage for merger litigation.
Cooley LLP
This alert summarizes the results from ISS's 2021 policy surveys, which were released on October 1, 2021. As we explained in our previous alert...
Cooley LLP
According to the Financial Times, "[p]ension funds and retail investors have complained for years over their lack of ability to vote at annual meetings when using an asset manager."
Allen Matkins Leck Gamble Mallory & Natsis LLP
An "other constituency statute" permit, but do not require, boards of directors to consider non-shareholder interests (such as the interests of employees, the environment, et cetera) when making decisions.
Cooley LLP
ISS has just released the results of its 2021 global benchmark policy survey, which, this year, actually comprises two surveys—one related to a broad array of ...
Riker Danzig Scherer Hyland & Perretti
On September 28, 2021, Governor Phil Murphy signed into law a bill allowing New Jersey business corporations to maintain certain records, particularly records regarding stock ownership, using electronic networks or databases...
Cooley LLP
You might remember that the first legal challenge to California's board gender diversity statute, Crest v. Alex Padilla, was a complaint filed in 2019 in California state court by three California taxpayers seeking to...
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