Mon.May 15, 2023

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ESG Securities Fraud

Harvard Corporate Governance

Posted by James J. Park (UCLA) , on Monday, May 15, 2023 Editor's Note: James J. Park is a Professor of Law at UCLA. This post is based on his recent article , forthcoming in the Wake Forest Law Review. Related research from the Program on Corporate Governance includes Rethinking Basic (discussed on the Forum here ) by Lucian Bebchuk and Allen Ferrell; and Price Impact, Materiality, and Halliburton II (discussed on the Forum here ) by Allen Ferrell and Andrew H.

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How firms can prioritize accountants’ mental health in the workplace

ThomsonReuters

Working in the tax and accounting industry can be a stressful job. With long hours, tight deadlines, and pressure to deliver results, it can be hard to achieve a work-life balance. That’s why it’s important for both tax and accounting professionals and their firms to take steps to protect their mental health. With Mental Health Month upon us, this is a good time to think about strategies to ensure that your teams maintain a healthy work-life balance.

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Nine Developments and Trends Shaping US Shareholder Activism in 2023

Harvard Corporate Governance

Posted by Thomas W. Christopher, Maia Gez and Ty C. Akkoyun, White & Case LLP, on Monday, May 15, 2023 Editor's Note: Thomas W. Christopher and Maia Gez are Partners and Ty C. Akkoyun is an Associate at White & Case LLP. This post is based on their White & Case memorandum. Related research from the Program on Corporate Governance includes The Long-Term Effects of Hedge Fund Activism (discussed on the Forum here ) by Lucian Bebchuk, Alon Brav, and Wei Jiang; Dancing with Activists

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What is a semiconductor?

Mckinsey and Company

Semiconductors are the unsung heroes of the technology world: parts manufactured from pure elements that work behind the scenes to power and connect everything from smartphones to cars.

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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Jake Paul And Joe Levy's Betr Sports Betting Company Acquires Chameleon, Continues Push For Direct-To-Consumer Platform

Benzinga

Microbetting sports betting platform Betr , founded by Jake Paul and Joey Levy, announced a recent acquisition to continue its push in the sector. Here’s a look at the deal and how it could shape the future of Betr. What Happened: Paul and Levy launched Betr with the goal of simplifying the process of live sports betting and predicting results.

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Building new businesses in mobility with Travis Katz and Asad Husain

Mckinsey and Company

Travis Katz, CEO of BrightDrop, shares how he navigates the challenges of developing a cutting-edge enterprise, while strategically leveraging GM’s powerhouse capabilities and maintaining agility every step of the way.

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The impact of artificial intelligence on the tax and accounting profession

ThomsonReuters

The use of artificial intelligence (AI) has already had a tremendous impact in many industries, and the tax and accounting sector is no exception. As AI technology becomes increasingly sophisticated, it presents CPAs with a range of opportunities to enhance their advisory services through automated processes, real-time insights, and personalized advice.

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EU OKs Microsoft-Activision Deal On Cloud Gaming Promises

Law 360 M&A

European Union antitrust officials signed off Monday on Microsoft Corp.'s planned $68.7 billion takeover of Activision Blizzard Inc., mollified that commitments to freely license games via "any cloud game streaming services" bloc gamers use will address the competition concerns that spurred U.K. authorities to block the transaction.

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Mastermind Operating Income Up 282% for Q2 Ending 3/31/23

Business Wire M&A

ATLANTA--(BUSINESS WIRE) - $MMND #Influencer--Today, Mastermind, Inc. (OTC QB:MMND) – a leading vertically-integrated digital marketing firm specializing in designing, creating, and activating marketing campaigns for global brands - released its financial results for the second quarter ending March 31, 2023. The 3-month and 6-month period ending March 31, 2023 showcased impressive growth for Mastermind: Operating Income rose 282% and 71.1% for the 3-month and 6-month periods ended 3/31/23 Gross

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The new automotive mandate: Moving from building products to building businesses

Mckinsey and Company

Automotive incumbents and their suppliers need to develop new growth opportunities to fend off innovating attackers.

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Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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E.U. Approves Microsoft’s $69 Billion Deal for Activision

NYT M&A

The green light follows objections to the blockbuster deal by American and British regulators on the grounds that it would undercut competition.

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EU Commission Adopts New Merger Simplification Package

National Law Review M&A

Jacques Buhart Stéphane Dionnet Christian Krohs Frédéric Pradelles Jurisdiction: European Union Hendrik Viaene Type of Law: Mergers & Acquisitions Antitrust & Trade Regulation Global Corporate & Business Organizations Special highlight:

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Operational efficiency: A clear path to outperformance in distribution

Mckinsey and Company

More efficiency in operations means more agility—and more profitable growth—in an uncertain world.

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Comment on AMC Hires a Convicted Felon as Property Data Collector by Baggins

Appraisers Blog

In reply to Mike Ford. The third party amc Class, hired a fourth party records check service, whom approved the fifth party inspector, whom just coincidentally had a side hustle staging robberies of armored trucks he was driving and had already been caught with pending convictions at the time of records checking. Checks out. Sounds legit. Let’s give that appraisal management company a really big government contract!

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Mastering Intent Data: Understanding its Importance & Best Practices

Speaker: Joe Apfelbaum, CEO of Ajax Union

In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.

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Exploring the future of mobility with Philipp Kampshoff

Mckinsey and Company

Philipp Kampshoff shares his thoughts on the changing mobility landscape for the new podcast Drivers of Disruption.

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EU clears Microsoft-Activision deal despite UK’s decision to block acquisition

Financial Times M&A

Competition officials in Brussels take different view from UK regulator on cloud gaming market

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Vice files for bankruptcy protection amid cut-price sale to consortium

The Guardian M&A

Digital publisher and owner of Vice News and Vice TV was once valued at $6bn but has agreed sale for $225m Vice, the once high-flying media startup that reached a peak valuation of nearly $6bn (ÂŁ5bn), has filed for bankruptcy protection in the US as the digital publisher engineers a cut-price sale to a group of lenders. The company, whose assets include Vice News, Motherboard, Refinery29 and Vice TV, has agreed a sale to a consortium that includes Fortress Investment Group, Soros Fund Management

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Pacific Retail Capital Partners Enters New Jersey with Acquisition of Bridgewater Commons

Business Wire M&A

LOS ANGELES--(BUSINESS WIRE)--Pacific Retail Capital Partners (“PRCP” or the “Company”), one of the nation’s leading retail real estate development, investment, management and advisory firms focused exclusively on evolving retail-led real estate, today announced its entry into New Jersey with the acquisition of Bridgewater Commons, a 1.2 million square foot mall located in Bridgewater, New Jersey.

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Chancery Denies Continued Fox Seal On Murdoch Deal Docs

Law 360 M&A

Terming the information "highly likely stale," a Delaware vice chancellor has rejected the continued sealing of documents from a 4-year-old challenge to an $82.4 million stock award to Rupert Murdoch and sons under a partial, $71 billion Twenty-First Century Fox Inc. merger with the Walt Disney Co.

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Comment on FNMA Property Data Collectors Program Violates WV Law by Baggins

Appraisers Blog

In reply to Todd Redington, SRA AI-RRS AGA. Refer to above post of mine, 04/20, 2;04pm. Second link. The state of CO did a study on which states have rules regarding home inspector licensing requirements. My argument is simple; The body of regulation was formed around clear seperation of duties for distinctly different occupations. This new approach purposefully intermingles duties, thereby bypassing the intention of existing regulation.

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FTC Ordered To Produce Info 'Fundamental' To Meta Case

Law 360 M&A

A D.C. federal judge on Monday ordered the Federal Trade Commission to hand over materials supporting the agency's contention that consumers would have benefited had Meta never acquired WhatsApp and Instagram, rejecting agency assertions that expert witnesses will spell out which improvements Meta allegedly blocked.

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Center Parcs UK owner seeks double what it paid with near-ÂŁ5bn price tag

The Guardian M&A

Private equity firm hopes to cash in on post-Covid trend for UK domestic breaks with sale of six resorts Center Parcs’ UK and Irish business is being put up for sale with a price tag of up to £5bn – double the amount it was bought for in 2015 – as its private equity owners seek to cash in on the trend for domestic breaks kickstarted by the Covid pandemic.

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Catching Up With Delaware's Chancery Court

Law 360 M&A

In Delaware Chancery Court last week, Pandora stockholders announced a settlement, Hertz stockholders filed a new suit, Facebook stockholders scored a win, Oracle stockholders suffered a loss, and Block stockholders launched an appeal. In case you missed any of it, here's your weekly run-down of news out of Delaware's Chancery Court.

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Fifth Third Completes Acquisition of Big Data Healthcare, Further Accelerating Bank’s Digital Payments and Managed Services Offerings

Business Wire M&A

CINCINNATI--(BUSINESS WIRE)--Fifth Third Bancorp (NASDAQ: FITB) today announced it has closed the acquisition of Big Data LLC, a technology solutions provider for healthcare payments and remittance. The transaction adds national healthcare revenue cycle capabilities, addressing the complex and complicated needs of clients, while building on Fifth Third’s legacy of digital innovation and focus on the healthcare sector.

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Musk's Change Of Heart Can't Nix SEC Deal, 2nd Circ. Says

Law 360 M&A

Elon Musk cannot back out of a settlement with the U.S. Securities and Exchange Commission that requires him to submit to oversight of his Tesla-related tweets simply because he "changed his mind" about the deal, the Second Circuit ruled Monday.

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NOG Announces Joint Acquisition of Forge Energy Assets in the Permian Basin

Business Wire M&A

MINNEAPOLIS--(BUSINESS WIRE)--NOG Announces Joint Acquisition of Forge Energy Assets in the Permian Basin; Transaction Accretive to Key Financial Metrics

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What Associates Need To Know Before Switching Law Firms

Law 360 M&A

The days of staying at the same firm for the duration of one's career are mostly a thing of the past as lateral moves by lawyers are commonplace, but there are several obstacles that associates should consider before making a move, say attorneys at HWG.

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Comment on The New & Improved Fannie Mae “FRAUDULATOR 2.0” by Baggins

Appraisers Blog

What an excellent article. This also touches on the TAF’s ridiculous proposal to develop an ‘avm accreditation program’ which would substitute a human credentialed appraisers signature. Just rubber stamp these avm programs. I’ve talked to many a realty sales agent about avm programs as well. Their firms are constantly switching from one avm subscription to another, as there are very high variances in results, some function as bait and switch, others more on high numbers f

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KKR-Backed Envision Healthcare Hits Ch. 11 Bankruptcy

Law 360 M&A

KKR-owned physician staffing company Envision Healthcare said Monday it had filed for Chapter 11 bankruptcy with approximately $7.7 billion in debt, just five years after it was bought by the private equity behemoth in a $10 billion deal.

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Keith Butcher on KPWC/NPR Discussing Employee Stock Ownership Plans

Butcher Joseph & Co.

Keith Butcher discusses ESOPs with KPWC/NPR as a way for business owners to cash out at a fair value while making sure their employees are valued and. The post Keith Butcher on KPWC/NPR Discussing Employee Stock Ownership Plans appeared first on ButcherJoseph & Co.

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Settlement Elusive As $8.6B Tegna Deal Nears Deadline

Law 360 M&A

The Federal Communications Commission's Enforcement Bureau says there's still a chance to resolve two questions FCC staff wants addressed before the agency decides the fate of broadcaster Tegna Inc.'s $8.6 billion go-private deal with Standard General LP, but time is running short before the acquisition's financing expires.

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Comment on The New & Improved Fannie Mae “FRAUDULATOR 2.0” by Seneca

Appraisers Blog

Fannie filed a complaint against me in August 2022. Still have not heard from the state board. I just don’t think they care anymore about these Fannie Mae complaints and probably have written up some one size fits all letter about their findings.

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Carbon-Neutral Real Estate SPAC Aims To Raise $100M For IPO

Law 360 M&A

Special-purpose acquisition company FPA Energy Acquisition Corp., represented by Ellenoff Grossman and underwriters counsel Shearman & Sterling, on Monday filed plans for a $100 million initial public offering, hoping to target a carbon-neutral real estate business.

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ISS Discusses Sectors Where ESG Performance Matters Most for Company Valuation

Reynolds Holding

The January 2023 study “ESG Performance and Enterprise Value: Do Firms with Stronger ESG Performance Have Higher Valuation Ratios?” investigated the relationship between the ISS ESG Performance Score (a normalized version of the ISS ESG Corporate Rating ) and two valuation ratios from the ISS Economic Value Added (EVA) framework. This new, complementary study also investigates this relationship and, like the January piece, applies regression analysis to a large global sample of companies observe