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Publicly-Traded Companies Corporations Code

Dorsey & Whitney LLP

Minnesota to Permit Ratification and Validation of Defective Corporate Acts

Dorsey & Whitney LLP on

On April 30, 2025, Governor Tim Walz signed H.F. No. 747 into law. H.F. No. 747 amends several provisions of the Minnesota Business Corporation Act (Chapter 302A of the Minnesota Statutes)....more

Venable LLP

Maryland Remains the Favored Jurisdiction for REITs

Venable LLP on

Amid continuing reports of corporations reincorporating from Delaware, including Simon Property Group reincorporating from Delaware to Indiana, the location of its headquarters, and Texas and Nevada recently amending their...more

Latham & Watkins LLP

Recent Developments for UK PLCs - July 2025

Latham & Watkins LLP on

On 5 June 2025, the GC100 and Investor Group published an updated version of their Directors’ Remuneration Reporting Guidance. This revision reflects evolving best practices and incorporates changes introduced by the...more

Fenwick & West LLP

Texas Adopts Law Permitting Limits on Shareholder Proposals

Fenwick & West LLP on

On May 19, 2025, Texas Gov. Greg Abbott signed Senate Bill No. 1057 (SB 1057) into law....more

Fenwick & West LLP

Texas Adopts Much-Anticipated Senate Bill No. 29 and Other Pro-Business Legislation

Fenwick & West LLP on

On May 14, 2025, Texas Gov. Greg Abbott signed the much-anticipated Senate Bill No. 29 (SB 29) into law....more

Allen Matkins

If The Shares Of A Chinese Company Are Delisted, What Happens To Trading In California?

Allen Matkins on

Yesterday's Wall Street Journal includes a story about the possible delisting of shares of Chinese companies.  Shares of companies that are listed, or authorized for listing, on a national securities exchange (or tier or...more

Allen Matkins

Does The Stock Market Believe That California's Board Diversity Mandates Enhance Firm Value?

Allen Matkins on

In 2018 and 2020, California enacted laws mandating that publicly held corporations (as defined) having their principal executive offices in California have specified minimum numbers of directors who are female and from...more

Allen Matkins

Delaware's Problem Isn't That It's Pro-Plaintiff And Anti-Business, It's That Its Corporate Law Is Too Labyrinthine And...

Allen Matkins on

Professor Stephen Bainbridge recently took note of a draft essay by Yale Law School Professor Jonathan R. Macey, Delaware Law Mid-Century: Far From Perfect but Probably Not Leaving for Las Vegas.  Professor Macey posits that...more

Allen Matkins

Why Was 25% Chosen As California's Jurisdictional Threshold For Recapitalization Transactions?

Allen Matkins on

California's securities qualification requirements and exemptions depend upon whether the offer and sale of securities is an issuer transaction, a change in rights, exchange, merger, or conversion transaction, or a nonissuer...more

Allen Matkins

Cave Delaware Aut Bene Dormi Delaware?

Allen Matkins on

I began writing about Nevada Corporate Law more than three decades ago with an article entitled "The Nevada Corporation: Is It A Good Bet?".  14 CEB California Business Law Reporter 259 (1992).  In the ensuing decades, I have...more

Allen Matkins

Do Nevada Courts Ignore Delaware Precedents?

Allen Matkins on

In a recently released article, Professor Stephen Bainbridge tackles the question of just how real the DExit phenomenon might really be.  Among other things, he responds to my argument that Nevada eschews Delaware law...more

Allen Matkins

DExit - Would Oliver Cromwell Reincorporate In Nevada?

Allen Matkins on

Yesterday's post highlighted Professor Stephen Bainbridge's recently posted article, DExit Drivers: Is Delaware's Dominance Threatened?  His article analyzes the reasons that companies give for leaving Delaware for other...more

Allen Matkins

Another Publicly Traded Delaware Corporation Propose Move To Nevada

Allen Matkins on

I recently came across another publicly traded Delaware corporation with plans to reincorporate in Nevada.  Interestingly, this corporation, Sonoma Pharmaceuticals, Inc., originally began as a California corporation and then...more

Allen Matkins

Directors Removing Directors

Allen Matkins on

Seven years ago, I addressed the question of whether the board of directors of a California corporation could remove a fellow director...more

Allen Matkins

No Exit: Stockholders Fail To Grant Leave To Leave Delaware For Nevada

Allen Matkins on

In news that should cheer hearts in Delaware, the stockholders of Fidelity National Financial, Inc. last week failed to approve a proposal to convert the corporation from a Delaware to a Nevada corporation.  I characterize...more

Allen Matkins

Home Means Nevada For This Corporation, But Its Heart Remains Exclusively With The Delaware Court Of Chancery

Allen Matkins on

In 2019, the Nevada legislature added a provision to the state's corporate law permitting the articles of incorporation or bylaws to require, to the extent not inconsistent with any applicable jurisdictional requirements and...more

Allen Matkins

Converting A Corporation Is Not Domestication

Allen Matkins on

In a recent post, I took note of another Delaware corporation that had disclosed plans to convert to a Nevada corporation.  The Form 8-K filed by this company included the following statement...more

Allen Matkins

California Legislator Proposes To Enhance Criminal Fines For California, But Not Delaware, Business Entities

Allen Matkins on

In February of this year, California Assembly Member Jesse Gabriel introduced a bill making certain technical, nonsubstantive changes to a provision of the Penal Code concerning the removal of prison inmates for court...more

Allen Matkins

What Exactly Must A Board Approve When It Approves A Merger?

Allen Matkins on

Last Friday, John Jenkins wrote about another momentous ruling by Chancellor Kathaleen St. J. McCormick.  In Sjunde AP-Fonden v. Activision Blizzard, Inc., 2024 WL 863290 (Del. Ch. Feb. 29, 2024), she ruled...more

Allen Matkins

Is An Option Exercise Non Bis In Idem?

Allen Matkins on

Is the issuance of shares upon exercise of a stock option distinguishable from the issuance of the option?  The answer under California's Corporate Securities Law of 1968 may surprise some.  Corporations Code Section 25017...more

Allen Matkins

If Harvard Is A Corporation, Does Its Board Owe Fiduciary Duties?

Allen Matkins on

Of late, Harvard has garnered an abundance of attention regarding the continued incumbency of its President.  Despite widely criticized testimony before Congress and the publication of allegations of plagiarism, the Harvard...more

Allen Matkins

Does California Require "Reasonable Care" In A Board's Selection Of An Expert?

Allen Matkins on

Professor Stephen Bainbridge recently tackled the question of whether the business judgment rule applies to a corporate board's selection of an expert.   Section 141(e) of the Delaware General Corporation Law fully protects a...more

Allen Matkins

California Amends Corporations Code To Authorize Audio Option For Shareholder/Member Meetings

Allen Matkins on

Historically, a meeting necessarily meant a physical encounter.  Indeed, the word "meet" can be traced to the Anglo Saxon word metan which means to encounter or meet.  So it was that shareholder meetings involved the presence...more

Barnea Jaffa Lande & Co.

Companies without a Control Core – Draft Bills Calls for Changes

The Ministerial Committee for Legislation has recently re-approved the draft amendment to the Israeli Companies Law. The aim of this amendment is to improve the corporate governance rules applicable to companies with no...more

Allen Matkins

Discerning When A Director Has Acted With "Reckless Disregard"

Allen Matkins on

Section 204(a)(10) of the California Corporations Code permits the articles of incorporation to include provisions eliminating or limiting the personal liability of a director for monetary damages in an action brought by or...more

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