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Carl Icahn is reuniting with Brent Saunders, a relationship that proved profitable for both last time around.
Done in person, the annual meeting is the sole opportunity that all shareholders have to meet and talk with management.
U.S. companies are scrambling to compete with European companies to issue low-price euro-denominated bonds and take advantage of the quantitative easing currently being conducted by the European Central Bank.
In Merrill Lynch, Pierce, Fenner & Smith Inc. v. Manning, No. 14-1132 (May 16, 2016), the Supreme Court held that the provision of exclusive federal jurisdiction in the Securities Exchange Act of 1934 (“Exchange Act”) does not generally extend to claims brought under state law even if the complaint refers to purported Exchange Act violations. This ruling gives greater latitude to plaintiffs seeking to keep their cases in state court while invoking the language of federal securities laws or regulations in their complaints—so long as they do not actually assert federal causes of action.
BlackRock Inc Chief Executive Laurence Fink on Tuesday said he was "nervous" about Europe ahead of a June referendum on whether Britain should remain in European Union.
Months ago, Mr. Icahn criticized Pfizer’s proposed takeover of Allergan; now he is buying part of the company.
Corporate governance is becoming more and more complex.
TORONTO - Canada Pension Plan Investment Board has committed $218 million for a round of bonds that are secured by Romanian real estate. The properties are
A widely documented empirical finding is that share prices fall in response to a firm’s announcement of a seasoned equity offering (SEO). The standard explanation for this empirical regularity is that a firm has information that investors lack, and a SEO reveals to investors that the firm’s information is negative (see, in particular, Myers and Majluf 1984). In equilibrium, firms with negative information issue equity and accept the negative share price response because the SEO provides funding for a profitable investment. In contrast, firms with positive information prefer to pass up the investment rather than issue equity at a low price.
A report released [May 17, 2016] by the NYU Pollack Center for Law & Business and Cornerstone Research finds that U.S. Securities and Exchange Commission enforcements against public companies and their subsidiaries increased more than 50 percent in fiscal year 2015 and are on a pace to equal or exceed that high-water mark in FY 2016.
We show that firms with more short-term institutional investors have better long-term performance in dynamic economic environments. Following exogenous increase
For years, ethics and compliance officers have turned to the U.S. Sentencing Guidelines, and other similar frameworks, to inform their ethics and compliance programs to prevent and detect violations of law. The shortcoming in such frameworks, however, is that they focus only on minimum standards, based on compliance with laws or regulations. By following a check-the-box framework, companies severely limit the scope and effectiveness of their overall ethics and compliance programs.
Valeant Pharmaceuticals International Inc. received a joint takeover approach this spring from Japan’s Takeda Pharmaceutical Co. and private-equity firm TPG that the beleaguered drug maker rejected, according to people familiar with the matter.
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TOKYO (Jiji Press) — Companies have steadily established systems in line with the new corporate governance code put in place on June 1 last year, including appointments of independent outside board members.
The nation’s capital is center stage for the latest round of debates as to the impact of shareholder activism on American business. With the introduction of the Brokaw Act by four Democratic senators in March, followed by the announcement in May of a new D.C.-based lobbying organization formed by a bipartisan group of prominent activists, the long-running controversy over the unprecedented influence of shareholder activism has officially reached Washington.
The Securities and Exchange Commission (SEC) has long been concerned that earnings management practices result in adverse consequences for investors, including masking the true nature of economic transactions, and has often called for increased regulatory oversight of the financial reporting process. In our paper, The Switch Up: An Examination of Changes in Earnings Management after Receiving SEC Comment Letters, which was recently made publicly available on SSRN, we examine the influence of firm-specific regulatory oversight, in the form of SEC comment letters, on firms’ earnings management practices.
Equity crowdfunding platform NextGen Crowdfunding said on Tuesday that investors made more than $1 million in commitments after new U.S. investment regulations took effect two weeks ago.
NEW YORK, N.Y. - Staples Inc. says Ron Sargent will step down as chief executive after 14 years on the job. His departure follows Staples and rival Office
Add the public company to the endangered species list. Since 2007, the number of publicly listed companies in Canada has dropped 17%. Where are they all going?
Finance Minister Roger Melanson
Our paper, Influencing Control: Jawboning in Risk Arbitrage, publicly available on SSRN, provides the first study on a relatively new phenomenon of “activist risk arbitrage,” in which activist shareholders wield their influence over corporate control changes by blending shareholder activism into an M&A arbitrage strategy.
EU financial policymakers appear to be once more in a deadlock situation over proposals to limit the sovereign risk exposure of European banks. The strong exposure of some banks in the southern European periphery in their national sovereign’s debt was seen by many as one of the contributin
Wesley Bricker, deputy chief accountant in the SEC’s Office of the Chief Accountant, spoke at the 2016 Baruch College Financial Reporting Conference yesterday in New York City. Mr. Bricker commented on transition-period activities related to several of the FASB’s recently issued accounting standards, including the new revenue standard (ASU 2014-09). His remarks addressed two significant reporting and disclosure matters that broadly affect SEC registrants: (1) SAB Topic 11.M disclosures and (2) the requirement for revised financial statements in a registration statement.
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Scoop.it!
