SEC’s Jackson seeks dual-share compromise with ‘sunset’ provisions
SEC Commissioner Robert Jackson is urging exchanges to prohibit companies with dual-class shareholder structures from listing if that arrangement does not include sunset provisions.
Related articles
-
Blog
CII: Lyft’s planned share structure harms investors
The Council of Institutional Investors is expressing “deep concern” about Lyft’s initial public offering filing, because it implemented a dual-class share structure lacking “sunset provisions to unwind it within a reasonable time period.”
-
Blog
CII petitions exchanges over dual-class shares
The Council of Institutional Investors has filed petitions with the New York Stock Exchange and Nasdaq asking them to limit listings of companies with dual-class share structures.
-
Basic PageNestlé CEO dismissed after code of conduct breach
Nestlé dismissed its CEO over an undisclosed relationship with a subordinate, a clear breach of the company’s code of business conduct. The dismissal underscores that no one is exempt from compliance obligations, even top leadership.