Latest Dodd-Frank Posts
SEC Tells How to Fix the Faulty Initial Coin Offering
Litigation, Public Companies and Securities The SEC simultaneously announced a pair of settled enforcement actions related to illegally offered ICOs with extensive remedial provisions to fix the faulty offerings. You can find the enforcement actions here (Airfax) and here (Paragon). The first step is to issue a press release stating you are going to offer to give everyone their money back. […] Read more →
Still Looking for the First CAM
Public Companies and Securities I have been looking for the first real CAM and so far I haven’t found it. I’ve seen some dancing around the edges, like foreign auditors throwing in boiler plate going... Read more →
Court Declines to Approve Settlement in Director Pay Suit
Employment, Executive Compensation, Litigation, Public Companies and Securities In Stein v. Blankfein et al the Delaware Court of Chancery considered a proposed settlement of litigation against directors of Goldman Sachs. The related complaint contained two... Read more →
Chancery Describes Commercially Reasonable Efforts
M&A, Private Equity Akorn, Inc., v. Fresenius Kabi AG et al will undoubtedly become known as the first case where a Delaware court found a material adverse effect, or MAC (often referred to as a... Read more →