News & Analysis as of

Corporate Governance Board of Directors

Morris James LLP

Court of Chancery Invalidates Election of Directors Where Board Improperly Set the Record Date

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Sections 205 and 225 of the Delaware General Corporation Law facilitate prompt determinations of the validity of corporate actions. The former permits the Delaware Court of Chancery to validate defective corporate acts under...more

Fenwick & West LLP

CEO Ousters Hit Record Numbers

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According to research firm Exechange, 74 chief executive officers have been fired or forced out this year, which is the highest number since 2017....more

Cooley LLP

Delaware’s Latest on Bylaws: 5 Lessons Learned

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I was talking with Cooley partner Brad Goldberg about how he has been helping quite a few companies revisit their bylaws in response to the Delaware Supreme Court’s recent Kellner decision....more

Hogan Lovells

Wagner v. BRP: The Court of Chancery extends its Moelis stockholders agreement jurisprudence

Hogan Lovells on

In Wagner v. BRP Group Inc., the Delaware Court of Chancery further developed its jurisprudence regarding the validity of stockholders agreements that vest significant control rights in minority stockholders instead of a...more

Vinson & Elkins LLP

No Rest for the Weary: Three Trends to Watch in Shareholder Activism This Fall

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Fall is fast approaching, so most major US public companies have held their 2024 annual meetings. But, while temperatures are sure to cool in the coming months, the same can no longer be said for the shareholder activism...more

Allen Matkins

Another Delaware Publicly Traded Company Proposes A Nevada Move

Allen Matkins on

Last week, Chromocell Therapeutics Corporation filed preliminary proxy materials that included a proposal to reincorporate in Nevada.  Rather than convert, the company is proposing to effect the reincorporation by means of a...more

Allen Matkins

Is Your Directors And Officers Liability Coverage Illusory?

Allen Matkins on

Many corporations pay significant amounts for directors and officers liability policies.  Commonly referred to as D&O policies, these policies usually involve three sides.  Directors and officers are likely to have the most...more

Allen Matkins

After More Than A Year, Questions Remain Regarding Caremark and Officers

Allen Matkins on

Last year, Vice Chancellor J. Travis Laster famously held that officers could be subject to liability under the Caremark doctrine.  In re McDonald’s Corp., 289 A.3d 343 (Del. Ch. Jan. 26, 2023).    The Caremark doctrine...more

Maynard Nexsen

Delaware Supreme Court’s Kellner v. AIM Immunotech Inc. Decision Elucidates Advance Notice Bylaws Standards

Maynard Nexsen on

On July 11, 2024, the Delaware Supreme Court (the “Court”) issued a landmark ruling in Kellner v. AIM Immunotech Inc., providing crucial guidance on the standards for evaluating challenges to advance notice bylaws. This...more

Woodruff Sawyer

Leveraging Advisory Boards: A Solution for Public Companies

Woodruff Sawyer on

Public companies are under immense pressure to stay ahead of emerging trends, navigate increasingly complex regulations, and meet investor and other stakeholder demands. The expertise required to address these challenges is...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Informed Board - Summer 2024

Across industries, companies are facing new and uncertain regulatory pressures and demands in areas including artificial intelligence, sustainability, algorithmic pricing and fintech-bank relations. In this issue of The...more

Society of Corporate Compliance and Ethics...

[Virtual Event] Compliance & Ethics Essentials Workshop - December 2nd - 5th, 8:00 am - 5:00 pm CT

Learn the key principles of compliance - no travel required! If you’re new to or have minimal experience in compliance management don’t miss this opportunity to build the foundational knowledge you need! SCCE’s four-day...more

A&O Shearman

Liability for misfeasant trading guidance from the latest BHS judgment

A&O Shearman on

Following the judgment of the High Court in June 2024 finding two former directors of BHS liable for (amongst other things) wrongful trading and breaches of their directors' duties to creditors in the prelude to the...more

KPMG Board Leadership Center (BLC)

[Webinar] Geoeconomic outlook: Post-election and beyond - September 19th, 11:00 am - 12:00 pm ET

Join the KPMG Board Leadership Center and Eurasia Group for a timely discussion about post-election scenarios and the implications for doing business in an increasingly fragmented and volatile world. With companies facing two...more

Allen Matkins

Foreign Corporations Filing Actions In California May Be Required To Post Bonds When Domestic Corporations Are Not

Allen Matkins on

Under Section 1030 of the California Code of Civil Procedure, a defendant may at any time apply to the court by noticed motion for an order requiring the plaintiff to file an undertaking to secure an award of costs and...more

Allen Matkins

Has Your Corporation Unwittingly Agreed To Indemnify Its "Executives"?

Allen Matkins on

The "usual suspects" when looking for director and officer indemnification requirements are...more

Seward & Kissel LLP

SEC Drops Swing Pricing, Adopts Amendments to Form N-PORT and N-CEN and Issues Guidance on Open-End Fund Liquidity Risk Management...

Seward & Kissel LLP on

Who may be interested: Registered Investment Companies; Boards of Directors; Investment Advisers; Compliance Officers; Fund Administrators- Quick Take: In its August 28, 2024, open meeting, the SEC amended fund reporting...more

Allen Matkins

When Two Corporate Laws Diverge, Does Choosing One Make All The Difference?

Allen Matkins on

In a new article, professor of law Wendy Gerwick Couture aims for "a fuller understanding of Nevada corporate law, both substantively and theoretically, as compared with Delaware corporate law".  For the title and them of her...more

Allen Matkins

The Importance Of Calling

Allen Matkins on

The validity of a board meeting hinges on three things - a quorum, notice and call.  Many lawyers focus on the first two and may overlook the third.   For California and Nevada corporations, the question of who may call a...more

Allen Matkins

Is A Change In Transfer Restrictions In A Shareholder Agreement Subject To Qualification?

Allen Matkins on

A recent post discussed whether amending a shareholders agreement is subject to qualification under the California Corporate Securities Law of 1968.  For the purpose of that discussion, it is important to recognize that not...more

ArentFox Schiff

How Can Our Board Work Better? A Brief, Practical Guide to Legal Considerations for Trade Association Board Governance

ArentFox Schiff on

Trade association boards, like the boards of other private companies, often consist of stakeholders who are personally and professionally invested in the organization. Board members typically also possess significant business...more

Allen Matkins

Another Delaware Corporation Announces Stockholder Approval Of Nevada Reincorporation

Allen Matkins on

I continue to be on the lookout for Delaware corporations that have made the decision to reincorporate in Nevada.  Last Friday, Elevai Labs Inc. filed a preliminary information statement with the Securities and Exchange...more

Morris James LLP

Minority Stockholder Was Not a Controller Because Plaintiff Did Not Adequately Plead Actual Control of the Company’s Business...

Morris James LLP on

It is axiomatic that directors and officers of a Delaware corporation owe fiduciary duties to stockholders (and the company). Controlling stockholders also owe fiduciary duties. A stockholder is deemed a controller either...more

Allen Matkins

Does Amending A Shareholders Agreement Require Qualification Under The California Corporate Securities Law?

Allen Matkins on

A significant amount of background is required to answer the question of whether amending a shareholders agreement is subject to qualification under the California Corporate Securities Law.  As an initial matter, the CSL...more

Farella Braun + Martel LLP

REFRESH Nonprofit Basics: Director Duties and Best Practices for the Typical Nonprofit Public Benefit Corporation

Welcome to EO Radio Show - Your Nonprofit Legal Resource. Episode 90 is a refresh of the third of the original episodes published in the summer of 2022. During these dog days of summer, it's a good time to bring back some of...more

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