Elon Musk, Tesla, and the SEC have agreed upon a settlement to resolve potential securities fraud perpetrated by an August tweet. Important lessons and reminders for compliance officers rise to the surface of that document.
Boards & Shareholders
Posted inBoards & Shareholders
Withdrawal of past guidance signals a contentious start to SEC’s proxy process review
Critics of proxy advisory firms are cheering the withdrawal of 2004 no-action letters that they say empowered and entrenched the firms.
Posted inBoards & Shareholders
Podcast: California considers board diversity rules
In this edition of the Compliance Week podcast, we discuss California’s SB-826, a bill mandating that major companies in the state put female directors on their boards. We spoke to Lillian Tsu, a partner at Hogan Lovells and member of the firms Public Company Advisory Practice for her views on the state legislation.
Posted inBoards & Shareholders
Point: Benefits of crowdfunding
Attorney Douglas Ellenoff discusses why raising the crowdfunding cap boosts the fundraising method’s benefits.
Posted inBoards & Shareholders
Counterpoint: Crowds need to wise up
Public Citizen’s Bartlett Naylor advises careful consideration of current crowdfunding rules before considering a cap raise.
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Shareholders seeking $10.6 billion from VW over emissions disclosure
Shareholders seeking damages worth €9.2 billion (U.S. $10.6 billion) have taken German car giant Volkswagen to court in Germany for failing to inform them fully of the financial impact that the emissions cheating scandal would have on the company’s share price.
Posted inBoards & Shareholders
Pay for outside corporate directors barely increased in 2017
Total pay for outside directors at the nation’s largest corporations increased by a mere 3 percent in 2017, driven by increases in cash and stock compensation, according to a new analysis by Willis Towers Watson.
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Hot and getting hotter in Tesla’s kitchen
The real discussion surrounding Tesla and the recent tweet from CEO Elon Musk is a much-needed debate about boards of directors.
Posted inBoards & Shareholders
Opioid crisis sparks leadership changes at Purdue Pharma
In an attempt to distance itself from the opioid epedemic, Purdue Pharma recently made some leadership changes to its board of directors and executive committee, as it battles hundreds of lawsuits across the United States concerning opioid-related deceptive sales and marketing practices that are the focus of U.S. enforcement authorities.
Posted inBoards & Shareholders
All eyes on the CBS board of directors
The role of the board of directors in a best practices compliance program takes on even more importance when senior management engages in recalcitrant conduct. It remains to be seen if the CBS board will step up in a time of crisis.