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Shareholders Securities Exchange Act Securities Regulation

Husch Blackwell LLP

SEC Staff Issues New Guidance on Shareholder Proposals and Schedule 13G Eligibility

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On February 12, 2025, the Division of Corporation Finance of the U.S. Securities and Exchange Commission (SEC) published Staff Legal Bulletin No. 14M (SLB 14M) setting forth staff guidance on shareholder proposals submitted...more

Hogan Lovells

SEC staff revives former guidance on shareholder proposals raising social policy issues

Hogan Lovells on

On February 12, the SEC’s Division of Corporation Finance issued Staff Legal Bulletin No. 14M (SLB 14M) to update its guidance on the “economic relevance” and “ordinary business” exclusions in Exchange Act Rule 14a-8, which...more

Bass, Berry & Sims PLC

No Action Relief Alert: Issuance of SLB 14M and Rescission of SLB 14L

Bass, Berry & Sims PLC on

On February 12, the Staff (Staff) at the Securities and Exchange Commission (SEC) issued Staff Legal Bulletin No. 14M (SLB 14M). Among other matters, SLB 14M rescinds Staff Legal Bulletin No. 14L (SLB 14L) and reinstates...more

Cooley LLP

SEC Staff Adopts Significant New Guidance Affecting Shareholder Proposals and Engagement

Cooley LLP on

On February 11 and 12, 2025, the staff of the Division of Corporation Finance (Staff) of the Securities and Exchange Commission (SEC) provided a pre-Valentine’s Day treat for public companies and shareholders to digest in the...more

Morrison & Foerster LLP

Back to the Future: SEC Staff Issues Sweeping New Guidance on Shareholder Proposals Mid-Season

On February 12, 2025, the Division of Corporation Finance (Staff) of the U.S. Securities and Exchange Commission (SEC) published Staff Legal Bulletin No. 14M (SLB 14M), rescinding Staff Legal Bulletin No. 14L (Nov. 3, 2021)...more

Kennedys

Delaware Supreme Court reverses trial court for failing to apply "Interrelated Wrongful Acts" analysis correctly

Kennedys on

On February 4, 2025, the Delaware Supreme Court, sitting en banc, determined that the Wrongful Acts alleged in a securities class action against Alexion Pharmaceuticals, Inc. had a “meaningful linkage” with the Wrongful Acts...more

A&O Shearman

Southern District Of California Grants Motion To Dismiss Securities Claims Against Hardware Company For Lack Of Statutory Standing...

A&O Shearman on

On January 2, 2025, Judge Cathy Ann Bencivengo of the United States District Court for the Southern District of California granted a motion to dismiss a securities action asserting claims under Sections 10(b), 20(a), and 18...more

Allen Matkins

Can Reincorporation And Share Increase Proposals Be Bundled?

Allen Matkins on

In this earlier post, I commented on the preliminary proxy materials filed by P.A.M. Transportation Services, Inc. (nka PAMT Corp)  At the time, my interest was the company's proposal to reincorporate in Nevada from...more

Allen Matkins

SEC's Latest Complaint Against Elon Musk Spawns Questions About The Politics Of SEC Enforcement

Allen Matkins on

Earlier this week, the Securities and Exchange Commission filed a civil complaint in the U.S. District Court for the District of Columbia.  The complaint alleges that Mr. Musk in acquiring shares of Twitter failed to file a...more

Cooley LLP

McMahon takes a bump

Cooley LLP on

On Friday, the SEC announced settled charges against Vince McMahon, founder, controlling shareholder and former Executive Chair and CEO of World Wrestling Entertainment, for “knowingly circumventing WWE’s internal accounting...more

Jones Day

SEC Adopts Amendments to the Beneficial Ownership Rules

Jones Day on

In Short - The Background: On October 10, 2023, the U.S. Securities and Exchange Commission (the "SEC") adopted amendments to the rules that govern beneficial ownership reporting for investors, marking the first update to...more

Husch Blackwell LLP

SEC Heightens Issuers' Share Repurchase Disclosure Requirements

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On May 3, 2023, the Securities and Exchange Commission (SEC) adopted amendments to the disclosure requirements relating to issuers’ repurchases of their equity securities. As outlined below, the amendments require additional...more

Stinson - Corporate & Securities Law Blog

SEC Proposes Changes to Shareholder Proposal Rule

The Securities and Exchange Commission proposed amendments to Exchange Act Rule 14a-8, the shareholder proposal rule, which requires companies subject to the federal proxy rules to include shareholder proposals in their proxy...more

Proskauer - Corporate Defense and Disputes

SPACs Explained, in Five Minutes or Less

In the financial world, 2020 was the year of the SPAC. During the past few years, many Silicon Valley start-ups were chomping at the bit to get listed and cash out via initial public offering (IPO). And in 2020, over half of...more

Troutman Pepper Locke

Investment Management Update - November 2020

Troutman Pepper Locke on

Covering legal developments and regulatory news for funds, their advisers and industry participants through October of 2020. ...more

Kramer Levin Naftalis & Frankel LLP

SEC Adopts Amendments to Shareholder Proposal Rule

On September 23, the Securities and Exchange Commission adopted amendments to the “shareholder proposal rule” set forth in Rule 14a-8 of the Securities Exchange Act of 1934, which governs the process for a shareholder to have...more

Stinson - Corporate & Securities Law Blog

SEC Modifies Shareholder Proposals Framework

On September 23rd, the Commission adopted rules altering the shareholder proposals submission (and re-submission) framework under Rule 14a-8 of the Exchange Act for the first time in over twenty years....more

Sullivan & Worcester

SEC Provides Conditional Regulatory Relief for Public Companies Impacted by Coronavirus (COVID-19)

Sullivan & Worcester on

Companies May Extend Disclosure Deadlines and Implement Changes to Annual Meetings; SEC Reminds Companies of Disclosure Obligations - The Securities and Exchange Commission recently announced that it is providing...more

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