News & Analysis as of

Voting Rights

A Quick Guide to Voting Terms (Plus PDF Download)

Attend a meeting or read an organization’s rules, and you’re likely to encounter a variety of voting terms. Parliamentary procedure (e.g., the rules of Robert’s Rules and other parliamentary procedure guidebooks) helps us out...more

Reflecting The Parties’ Intentions In Operating Agreements: Reminder On Silent Terms

by Cole Schotz on

Does your operating agreement reflect your intentions? New Jersey’s Revised Uniform Limited Liability Company Act (the “RULLCA”) became effective on March 18, 2013. As noted in a post we authored in 2014, although initially...more

Corporate Finance Alert: Global Index Providers Announce Decision to Exclude Companies with Multi-class Capital Structures or...

In July 2017, global index providers S&P Dow Jones (S&P DJI) and FTSE Russell (FTSE) announced changes to their index eligibility rules, with S&P DJI excluding from certain of its indices companies with multi-class capital...more

Hong Kong court appoints receivers to preserve assets in aid of arbitral proceedings in China

by Hogan Lovells on

The Hong Kong High Court has appointed receivers over shares in a Hong Kong company as an interim measure to preserve the status quo and the value of the shares, pending the outcome of CIETAC arbitration proceedings in...more

Calif. AG Says SB 415 Applies to Charter Cities and Local School Districts Governed by Charter Cities - California Voter...

by Best Best & Krieger LLP on

Last week, Attorney General Xavier Becerra opined that the California Voter Participation Rights Act, also known as SB 415, applies to charter cities and school districts governed by charter cities. In the second opinion...more

Chinese walls? Germany reinforces the control of foreign investments

by Hogan Lovells on

On 12 July 2017, the German Federal Government significantly reinforced the barriers for the acquisition of German companies by non-EU companies. The new Regulation for the Amendment of the Foreign Trade and Payments...more

More Cos. Authorizing No-Vote Shares Despite Resistance

More companies are establishing the right to issue nonvoting shares at their initial public offering through a triple-class stock structure, venturing beyond dual-class setups that already contain unequal voting rights...more

New register of beneficial ownership of UK real estate

by Ropes & Gray LLP on

David Seymour, Ropes & Gray real estate partner, analyses the new register of overseas beneficial owners of UK real estate. _____________________ Real estate is an operational asset by its very nature and it has many...more

Breakthrough? – Proposed New Board of the Hong Kong Stock Exchange May Allow Listing of Companies with Disproportionate Voting...

by Dorsey & Whitney LLP on

In June 2017, Hong Kong Exchanges and Clearing Limited and its subsidiary The Stock Exchange of Hong Kong Limited (the “HKEx”) launched a consultation to seek public feedback on a set of proposals contained in two separate...more

2017 Legislative Changes to the Florida Condominium Act

On June 26, 2017, Governor Scott approved House Bill 1237, changing or amending a number of statutes regulating condominium associations. These statutes address conflicts of interest and access to official records, changes...more

2017 Community Association Legislation

by Roetzel & Andress on

The Florida Legislature has approved several bills affecting condominium, cooperative, and homeowners’ associations. House Bill 1237 and Senate Bill 1520 only amend Chapter 718, Florida Statutes (the Condominium Act). Senate...more

On My Bookshelf: Sisters, the Lives of America's Suffragists

by Baker Donelson on

Against the backdrop of the 2016 presidential election that pitted Hillary Clinton against Donald Trump, it was fascinating for our BakerReads group to spend some time with a book tracing the personal histories of five of the...more

The 2017 Fla. Legislature Returns To CondoLand

by Bilzin Sumberg on

Once again, after a one-year hiatus, the Florida Legislature has produced several condominium bills. Typically, the Legislature passes a single condominium bill into which other approved bills have been...more

Qualification Of Offers And Sales Of Non-Voting Common Stock Is No Snap In California

by Allen Matkins on

In March, Snap Inc. announced that it and the selling stockholders had sold of 230 million shares of Class A Common Stock to the public at an initial public offering price of $17.00 per share. The gross proceeds of the...more

Outer Boundaries of Corwin, and When a Stockholder Vote Will Cleanse Post-Merger Claims, Are Taking Shape

by Ropes & Gray LLP on

The Delaware Supreme Court’s decision in Corwin v. KKR Financial Holdings LLC set a high bar for plaintiff stockholders seeking to challenge public company mergers. Assuming a transaction that is not subject to entire...more

SEC’s Investor Advisory Committee Airs Concerns Over Multi-Tiered Offerings Following Snap’s IPO

Snap Inc., which debuted on the New York Stock Exchange (NYSE) on March 2nd, was the largest tech IPO since Alibaba went public in 2014. Initially priced at $17 per share, the share price jumped to more than $24 by the end of...more

Schemes of arrangement: share splitting and exercise of voting power

by Dentons on

In a decision on a previously undecided point, the High Court has held that a share-splitting exercise, carried out by a shareholder to boost the number of shareholders voting against a scheme of arrangement, did not defeat...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Navient Corp., facing CFPB allegations that it didn’t live up to its promises of helping its 12 million customers manage their loans, now has a two-faced problem after a recently filed motion to dismiss in which it argued...more

Singapore Exchange Amends Listing Rules Following Changes to the Companies Act

by Morgan Lewis on

The Singapore Exchange has introduced amendments to the Mainboard and Catalist listing rules—including in relation to the electronic transmission of documents to shareholders, exemptions for insurance coverage and indemnities...more

Updates on Public Company GMS and shareholders reporting

by White & Case LLP on

On March 14, 2017, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan or "OJK") issued two regulations impacting voting rights at a General Meeting of Shareholders of Public Companies ("GMS") and transparency...more

TSX - Skirting the Rules No Longer - TSX provides guidance on the use of "exceptional circumstances" in issuer majority voting...

by Bennett Jones LLP on

On March 9, 2017, the Toronto Stock Exchange (TSX) issued Staff Notice 2017-001 (the Staff Notice), which provides guidance on the TSX's majority voting requirement and the use of advance notice policies for director election...more

Blog: SEC Committee Discusses Multi-Class Common

by Cooley LLP on

An interesting topic of discussion at a meeting last week of the SEC’s Investor Advisory Committee was “unequal voting rights of common stock” — the trend over the last decade (plus) for a small number of IPO companies,...more

The Snap IPO: Speculation Without (Board) Representation

by Farrell Fritz, P.C. on

The just completed IPO of Snap Inc. has received enormous buzz and plenty of press coverage, mostly about its eye-popping valuation and offering proceeds, the big winners among the founders and early investors and the...more

SNAP IPO Debuts On NYSE

SNAP Inc., the parent company of Snapchat, went public yesterday with a valuation of approximately $33.4 billion. The Company raised $3.4 billion at $17 per share, and is now trading well above the IPO price. While SNAP has...more

A Revolution Brewing: Partisan Gerrymandering May be Unconstitutional

by Sands Anderson PC on

It’s been true for a long time, since nearly the dawn of the Republic, that politicians drafting voting districts have tinkered with borders of those districts for a host of reasons. Indeed, “gerrymandering,” owes its name to...more

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