Provisions to modify the JOBS Act and otherwise benefit smaller companies survive conference and will soon be up for vote
by Cydney Posner As discussed in this PubCo post, HR 22, now called the “FAST Act” – it was the “DRIVE Act” and before that the “Hire More Heroes Act” – is not just about transportation and highways (as important as that may be). Buried in the bill are several […]
Trinity Wall Street withdraws cert petition in connection with shareholder proposal to Wal-Mart
by Cydney Posner In the case of Trinity Wall Street v. Wal-Mart Stores, Inc. (see this PubCo post), Trinity has asked to withdraw its petition to SCOTUS for cert, and the petition has been dismissed under Rule 46. As a result, SCOTUS won’t be sharing its views of the ordinary business […]
House hearing on conflict minerals rule: a mixed bag
by Cydney Posner At a hearing last week before a subcommittee of the House Financial Services Committee, the members heard testimony regarding the Dodd-Frank conflict minerals provision. The Chair expressed concern that the provision was causing more harm than good, while the ranking member saw more hopeful signs. The bottom line? […]
Will the SEC finally provide some relief from the nearly incomprehensible proxy statement requirement for a New Plan Benefits Table?
by Cydney Posner Keith Higgins, Director of Corp Fin, hinted that he might be giving us a welcome gift in the future: a revision of Item 10 of Schedule 14A, the proxy statement – in my view, a component of the disclosure rules that has too long been ignored and […]
Will clawbacks have an unintended consequence?
by Cydney Posner A recent study, “Why Do Restatements Decrease in a Clawback Environment? An Investigation into Financial Reporting Executives’ Decision-Making during the Restatement Process,” shows that clawbacks may have unintended consequences. The study, conducted by an academic at Miami University of Ohio and published in The Accounting Review, showed […]
D.C. Circuit denies SEC’s petition for rehearing en banc in conflict minerals case
by Cydney Posner Hot off the press: The D.C. Circuit today issued a per curiam order denying the petitions of the SEC and Amnesty International for a rehearing en banc in Natl Assoc. of Manufacturers v. SEC, the conflict minerals case. No member of the court even requested a vote. […]
Nasdaq issues guidance regarding release of material news around market close (reposted)
by Cydney Posner On the heels of the NYSE rule amendment related to material news and trading halts (see this PubCo post ), as noted in thecorporatecounsel.net blog, Nasdaq has followed suit with this Issuer Alert. The Alert does not reflect a rule change, but does provide guidance regarding the […]
A few nuggets for smaller companies buried in the Drive Act
by Cydney Posner The House has passed a new transportation bill, HR 22, the “Drive Act” – not normally something to write about in the PubCo blog. (Originally, this bill appears to have been the “Hire More Heroes Act,” but was somehow transformed into the Drive Act – go figure.) […]
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