News & Analysis as of

Voting Rights

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

Why Luxembourg remains a jurisdiction of choice for private equity

by Hogan Lovells on

1. Framework for an exit from an SARL - Prior to 23 August 2016, any transfer of shares to non-shareholders of an SARL was subject to the prior approval of the shareholders holding not less than 75% of the SARL's share...more

Financial Services Weekly News - December 2016

by Goodwin on

Editor's Note - OCC to Move Forward with Federal FinTech Charter. In a development foreshadowed in the April 6, June 29 and September 14 editions of the Roundup, on December 2, the Office of the Comptroller of the...more

When Non-Voting Shares Have The Right To Vote

by Allen Matkins on

The California General Corporation Law authorizes a corporation to “issue one or more classes or series of shares or both, with full, limited or no voting rights”. Cal. Corp. Code § 400(a). Thus, it may be reasonable to...more

The End is Near! Election Day 2016 Employee Rights and Employer Responsibilities

The 2016 election is just days away—do you know your obligations when it comes to employees who want time off to vote during the workday? In some states employers must provide employees voting leave, while in other states,...more

Employment Law - November 2016

California Employers Have Special Obligations on Election Day - Next Tuesday our nation goes to the polls in what pundits expect will be record numbers. California employers have special obligations on Election Day to...more

A Reminder on Voting Rules for Non-U.S. Citizens

As the 2016 presidential election approaches, election reminders abound encouraging everyone to get out and vote on November 8th. Largely focused on the importance of participation, these messages do not typically distinguish...more

Employers Must Be Mindful of Voting Leave Rights on Election Day

With Election Day just a week away(!), it’s important that employers familiarize themselves with their employees’ rights to take leave to vote. While there is no Federal law granting employees the right to voting leave, at...more

SEC Proposes Universal Ballots in Contested Elections

by Dorsey & Whitney LLP on

On October 26, 2016, in a split vote, the SEC proposed the mandated use of universal ballots in contested director elections at annual meetings. The proposed rules were controversial even before they were proposed – the House...more

Should You Allow Your Employees Time Off to Vote? Three Considerations for Connecticut Employers

Election Day is now less than two weeks away. While many states require employers to provide their employees with time off to vote, Connecticut is not one of them. Employers in the state should, however, keep the following...more

Navigating Election Day 2016

by Zelle LLP on

November 8, 2016 is almost here—finally. There has been stress and controversy in the workplace this election season as a result of the unusually contentious and heated presidential election. Indeed, a recent American...more

Reminder: New York Election Law Notices Should Be Posted Today

by Bond Schoeneck & King PLLC on

New York’s Election Leave Law requires employers to post a voting leave notice at least ten (10) working days before “every election.” This year, the general election will be held on November 8, 2016. Therefore, employers...more

"Activist Investing in Europe: A Special Report (September 2016)"

This report offers an overview of the state of activism in Europe, as well as country-specific profiles for the United Kingdom, France, Germany, Italy and Switzerland, including information and commentary on noteworthy...more

Election Day is Coming Soon - Do You Know Your Employees' Voting Leave Rights? - October 2016

by Miller & Martin PLLC on

Realizing we ALL could use some "time off" FROM this year's presidential election, we want to provide you with a quick (party-neutral!) refresher on your employees' voting leave rights in light of the upcoming national...more

Election Day: What Employers Should Know About Employee Voting Rights Laws

by Epstein Becker & Green on

As Tuesday, November 8, 2016, approaches, employers should ensure compliance with voting rights laws in the states where they operate. There is no federal law that requires employers to give workers time off to vote, but...more

Employer’s Guide to State Voting Laws

This handy chart summarizes the laws of each of the 50 states (plus Canadian federal law) on whether employees must be given leave on election day, whether the leave must be paid, employers' rights, and other legal...more

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