News & Analysis as of

Board of Directors › Shareholder Rights › Securities Regulation

Skadden, Arps, Slate, Meagher & Flom LLP

Court Upholds Legality of Poison Pills for Closed-End Funds but Limits Successive Plans

Skadden, Arps, Slate, Meagher & Flom LLP on

On March 28, 2025, the U.S. District Court for the Southern District of New York (SDNY) held that it was legal under the Investment Company Act of 1940 (1940 Act) for a closed-end fund to use a shareholder rights plan...more

Wilson Sonsini Goodrich & Rosati

SEC Approves Amended NYSE Rule Relaxing Shareholder Approval Requirements for Equity Sales to Substantial Security Holders

Wilson Sonsini Goodrich & Rosati on

On December 26, 2023, the U.S. Securities and Exchange Commission (SEC) approved a rule change by the New York Stock Exchange (NYSE) narrowing the circumstances under which a listed company must obtain shareholder approval...more

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