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Publicly-Traded Companies Corporations Code Directors

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

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

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

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

Allen Matkins

A Corporation Is A Body But Also An "Individual"

Allen Matkins on

Several years ago, I wrote about the various meanings of "person" in the California Corporations Code.  All of the definitions mentioned in that post included corporations within the list of persons.  If a corporation is a...more

Allen Matkins

Court Of Appeal Declines To "Sit On" Board Diversity Judgment

Allen Matkins on

In July, California Secretary of State Shirley Weber filed a petition for a writ of supersedeas in the California Court of Appeal with respect to the trial court's judgment in Crest v. Padilla.  In that case, the trial court...more

Allen Matkins

This California Statute Deems Directors To Be Omniscient

Allen Matkins on

California Corporations Code Section 22003 effectively deems directors to be all-knowing...more

Allen Matkins

For These Directors, There May Be No Way Out

Allen Matkins on

The California General Corporation Law provides that any director may resign effective upon giving notice to certain specified persons, unless the notice specifies a later time for the effectiveness of his or her...more

Allen Matkins

May A Director Properly Rely On Her Rabbi?

Allen Matkins on

In prescribing the duties of directors, California Corporations Code Section 309 provides that a director is entitled to rely on information, opinions, reports or statements prepared or presented by "counsel, independent...more

Allen Matkins

Is California Threatening Director Independence?

Allen Matkins on

Publicly traded companies need to know whether a director qualifies as "independent" for a variety of reasons. Item 407 of Regulation S-K, for example, requires issuers to identify each director that is independent. In...more

Allen Matkins

“Lead Independent Director” Or “Presiding Director”?

Allen Matkins on

Neither California nor Nevada require that a corporation have either a “lead independent director” or “presiding director” and yet many corporations state that they have such a position. Why?...more

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