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Weekly Roundup: March 22-28, 2024

Harvard Corporate Governance

Posted by Gary Gensler, U.S. Supreme Court The SEC’s Proposed Safeguarding Rule Will Cost Investors Posted by R.J. Millstein tribute Posted by Stephen Davis (Harvard Law School), on Tuesday, March 26, 2024 Tags: ICGN , Ira M. Millstein , NACD , SOM COVID-19 Risk Factors and Boilerplate Disclosure Posted by Adam C.

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To Whom Are Caremark Duties Owed?

Reynolds Holding

The NCPPR case was unusual in that it brought its claims derivatively , as a Starbucks shareholder, on the ground that the directors’ illegal conduct violated their fiduciary duties to the company. Plaintiff’s shares are worth approximately $6,000 of a company with a market capitalization of more than $121 billion. 2d 959 (Del.

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Corporate Culture and Financial Reporting Quality

Reynolds Holding

Corporate culture is an important determinant of companies’ behavior and success and, as a result, has drawn much attention, particularly from the business press. Working paper, The Hong Kong Polytechnic University and The George Washington University. 2016) and economic performance (Guiso et al. Source: Cameron et al. Jollineau, S.

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Sullivan & Cromwell Discusses Supreme Court Decision on Pennsylvania’s Consent-to-Jurisdiction Law

Reynolds Holding

Norfolk Southern Railway Co. 3] A Pennsylvania statute, however, requires out-of-state companies that register to do business in Pennsylvania to consent to the Commonwealth’s exercise of general personal jurisdiction. Gold Issue Mining & Milling Co. , [6] a 1917 decision that upheld a Missouri law similar to Pennsylvania’s. [7]

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Tax Authorities Set an Aggressive Schedule for Global Minimum Tax

ThomsonReuters

The Global Minimum Tax is the latest initiative spinning off of the Base Erosion and Profit Shifting (BEPS) initiative from the Organisation for Economic Co-operation and Development (OECD). In a recent report for Checkpoint , Robert Rizzi, a tax partner with Steptoe & Johnson LLP in Washington and New York, noted that U.S.

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Davis Polk Discusses Recent SEC and CFTC Enforcement Actions

Reynolds Holding

The actions include public company disclosure and crypto matters, among others. Actions initiated by the SEC and CFTC in July and August 2023 Number of actions, by matter type Public company disclosures Molecular diagnostic company settles misrepresentation claims related to COVID-19 testing products In the Matter of Co-Diagnostics (A.P.

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“Shadow Trading” Becomes Insider Trading

Reynolds Holding

an oncology-focused biopharmaceutical company. In this position, according to the SEC, he “closely tracked the stock prices, drug products and development pipelines of other biopharmaceutical companies.”. Responding to unsolicited interest in acquiring Medivation, the company hired investment bankers to explore options.