Wall Street’s watchdog launched questions at more than a dozen major companies including Dell Technologies Inc., Humana Inc., and American Express Co. seeking information on how their corporate boards oversee company risks...
Former Starbucks Corp. general counsel Rachel Gonzalez is eyeing a possible board position for vacation rental company Vacasa Inc. Vacasa named her a board observer and intends to seek stockholder approval to add a director and elect Gonzalez at its annual meeting next year, the Portland, Ore.-based company said in a statement Wednesday...
Activist campaigns with objectives that target board and management changes—a significant tool that investor activists wield to accomplish change at a company—didn’t succeed in the 2022 proxy season at the same rate as in 2020 and previous years. But that may not be the end of the story for the performance of activist efforts in 2022...
Shareholders suing Uber Technologies Inc. for allegedly hiding information about the legality of its business model, its passenger safety record, and other issues may represent a class of investors who purchased stock when the company went public, a federal court in California ruled...
Amazon.com Inc.’s recent settlement with California over employee Covid-19 notifications is the latest example of how pandemic-related workforce safety has emerged as a top environmental, social and governance concern for corporate boards...
First American Financial Corp. won dismissal of a would-be shareholder class action over a 2018 cybersecurity breach, after the U.S. District Court for the Central District of California said the shareholders failed to allege any actionable misrepresentations...
An OSI Systems Inc. shareholder has standing to challenge a California law requiring public corporations headquartered in the state to have a minimum number of women on their boards of directors, the Ninth Circuit ruled Monday...
Shareholders are increasingly asking corporations to reveal gender and diversity data about their workforces, with their proposals to publicly disclose confidential, government-only figures gaining strong support during this year’s proxy season...
Environmental, social, and governance measures can bolster an organization’s financial performance but when mishandled can lead to greater litigation risks, shareholders in Greenberg Traurig’s environmental practice explain...
Blackhawk Network Holdings Inc. CEO Talbott Roche and executive chairman William Y. Tauscher escaped claims Monday that they dodged activist pressure by engineering an underpriced private equity buyout, although a Delaware Chancery Court judge ordered Roche to face one allegation of deficient deal disclosures...
Communication platforms like Microsoft Teams have quickly become indispensable during the pandemic. FTI Consulting technology specialists Tim Anderson and Chris Zohlen say this rapid adoption has left little room for legal and compliance considerations or governance controls and offer questions counsel should ask to prevent future headaches...
While the impacts of 2020’s seismic social and political disruptions will reverberate for some time, in what may come as surprise to some, the corporate boardroom is proving to be fertile ground for incremental social change taking permanent root...
Businesses will continue to struggle with the Covid-19 pandemic throughout 2021, in both the marketplace and the boardroom. Measures companies took in response to the crisis, such as the use of remote director meetings and virtual annual shareholder meetings, will likely remain part of the governance landscape through 2021...
Executive compensation has long been a hot-button issue for investors. Throughout 2021, the Covid-19 pandemic and the economic downturn will focus attention on the pay of executives in struggling companies...
SCWorx Corp.'s CEO and two other board members were hit with a lawsuit in Delaware Chancery Court claiming they pushed the health care supply chain company to begin marketing “completely bogus” Covid-19 rapid tests in a fraudulent bid to hype its struggling stock early in the pandemic...
Twitter Inc.‘s board agreed to add diversity to its ranks as part of a $47 million settlement for shareholder suits over allegedly inflated user metrics...
DaVita Inc. shareholders asked a federal judge in Delaware to preliminarily approve a $50 million settlement resolving their derivative suit related to a 2014 False Claims Act settlement with the Justice Department. The dialysis provider would also adopt “a broad array of industry-leading corporate governance reforms” intended to “substantially enhance the way that DaVita is governed overall” as part of the settlement, the shareholders said in the U.S. District Court for the District of Delaware...
Boardroom diversity continues to be a struggle for most public companies, but it’s not for a lack of trying...
The immediate challenge for California-based public companies to comply with the state’s mandate on corporate board diversity is the lack of regulatory guidance...
The ex-board of Redbox and Coinstar operator Outerwall Inc. doesn’t have to face claims that it rushed into a $1.6 billion take-private buyout by Apollo Global Management LLC over conflicts of interest caused by pressure from an activist investor, a Delaware judge ruled Friday...
OnDeck Capital Inc.'s board was hit with a Delaware lawsuit blasting its plans to let Enova International buy the online lender as part of a $90 million “fire sale” at “a remarkably terrible time.”...
Flagstar Bancorp’s former chief executive officer advanced claims he’s owed nearly $16 million in executive compensation and consulting fees, when a Manhattan federal judge on Friday found a factual dispute exists over whether the bank could seek regulatory approval for the payment...
... social, or corporate governance reasons. Seyfarth Shaw LLP attorneys say it could be difficult for an ERISA fiduciary to justify an investment decision ...
Investors who want better social, environmental, and governance practices in companies and believe in a strong investor voice should be concerned about the SEC’s proposed rule to amend the process for shareholder proposals to be included in a company’s proxy statement, writes Lisa Woll, CEO of US SIF. She says the rule will silence the small investor voice and is contrary to the SEC’s purpose of protecting investors...