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Second Circuit Affirmance of ‘Sterilization’ Remedy Denial in 13d Case Reinforces Need for Appropriate Advance Notice Bylaws

The US Court of Appeals for the Second Circuit recently affirmed a District Court’s denial of a company’s request to “sterilize” the voting securities of stockholders who allegedly violated the disclosure requirements of...more

2024 Proxy Season: The Importance of Evaluating DEI, ESG, and Corporate Social Responsibility Disclosures

In preparing for both the 2024 proxy season and publication of inaugural or refreshed corporate social responsibility or sustainability reports, as well as in anticipation of final climate disclosure rules from the SEC as of...more

Publicly Traded Companies: Don’t Forget to Register Plan Interests in Deferred Compensation Plans

Publicly traded companies generally file registration statements on Form S-8 to register the offering of the company’s stock pursuant to the company’s equity incentive plans under the Securities Act of 1933, as amended...more

SEC Proposes Enhanced Disclosure Rules for Stock Repurchases

The US Securities and Exchange Commission has proposed amendments to its rules regarding disclosure about issuer repurchases of its equity securities, often referred to as buybacks, including a new proposed Form SR to be...more

SEC Proposes Rules for Security-Based Swaps Prohibiting Fraud and Manipulation

The US Securities and Exchange Commission proposed new rules on December 15, 2021, with respect to security-based swaps that, if adopted as proposed, would prohibit fraud and manipulation, require reporting of large...more

SEC Enforcement and Public Companies – 2020 Key Cases and What We Expect in 2021

Most media accounts suggest that the incoming Biden administration will usher in a more “aggressive” SEC enforcement posture, with renewed emphasis on investigating potential fraud and controls deficiencies at public...more

SEC Approves NYSE Rules Allowing Companies to Raise Money in Registered Direct Offerings

The US Securities and Exchange Commission has approved New York Stock Exchange rule changes that will grant the exchange discretion to allow companies to raise money by selling common shares in registered direct offerings,...more

ISS Announces 2021 Benchmark Policy Updates

Institutional Shareholder Services (ISS) on November 12 released updates to its benchmark proxy voting policies, which will apply for shareholder meetings taking place on or after February 1, 2021. ...more

SEC Adopts Extensive Revisions To Rules Governing Financial Information Of Acquired And Disposed Businesses

The US Securities and Exchange Commission on May 20, 2020 adopted a series of amendments to its rules and forms relating to disclosure requirements for financial statements relating to acquisitions and dispositions of...more

COVID-19 Market Volatility: Nasdaq Provides Temporary Relief from Certain Listing Requirements

The Nasdaq Stock Market has temporarily suspended the continued listing bid price and market value of publicly held shares listing requirements for its issuers through June 30, 2020....more

Disclosure Amid COVID-19: Notable SEC Public Statement Focuses on Underlying Public Policy

A recent US Securities and Exchange Commission statement stressed the importance of disclosure and highlighted its role in the national effort to foster a meaningful, responsible increase in economic activity. ...more

SEC Guidance for Disclosure Relating to COVID-19 Crisis

The US Securities and Exchange Commission announced on the morning of March 25 the extension of filing periods covered by previously enacted conditional reporting relief for certain public company filing obligations, and...more

SEC Amends Definitions of Accelerated and Large Accelerated Filers

The US Securities and Exchange Commission announced that it voted on March 12 to adopt amendments to the definitions of “accelerated filer” and “large accelerated filer” in Rule 12b-2 of the Securities Exchange Act of 1934,...more

COVID-19: SEC Division of Corporation Finance Issues Guidance on Annual Meetings

The staff of the Securities and Exchange Commission’s Division of Corporation Finance on March 13 issued guidance designed to assist companies in complying with federal proxy rules in light of the coronavirus (COVID-19)...more

SEC Adopts Final Rules to Disclose Hedging Policies

The US Securities and Exchange Commission (SEC) issued final rules on December 20, 2018, requiring companies to disclose, in proxy or information statements for the election of directors, their policies and procedures on the...more

Institutional Shareholder Services Announces 2019 Proxy Voting Guidelines Updates

Updates for the 2019 proxy voting guidelines by Institutional Shareholder Services include guidance on board gender diversity and attendance, board-sponsored proposals, and director performance evaluations....more

Bigger Is the New ‘Smaller’

SEC proposes amendments to definition of “smaller reporting company.” In proposed rules issued on June 27, the US Securities and Exchange Commission (SEC) proposed amendments to the definition of “smaller reporting...more

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