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October 2021

Wachtell Lipton Discusses Delaware Supreme Court’s New Demand Futility Test

By William Savitt, Ryan A. McLeod and Anitha Reddy October 1, 2021 by renholding

In what promises to be a landmark decision, the Delaware Supreme Court last week reframed the rules governing derivative litigation.  United Food & Commercial Workers Union v. Zuckerberg, No. 404, 2020 (Del. Sept. 23, 2021).

A Facebook stockholder …

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Each business day, our team sifts through blog posts, news stories, and other sources to keep up-to-date on relevant recent developments. The following links will take you to our recommended selections. To see the sources we follow click Filter Sources.

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Dealbook
How Should Billionaires Be Taxed?
October 31, 2021
D&O Diary
SPAC-Related Securities Suit Hits Deep Sea Mining Company
October 31, 2021
Jim Hamilton's World
SEC Committee Offers Advice on Smaller Advisory Firms
October 31, 2021
Business Law Prof Blog
ESG at Stake in Loeb’s Shell Game
October 31, 2021
Wall Street Journal
Global Regulators Back Tougher Rules to Block Criminal Use of Crypto
October 28, 2021
PubCo @ Cooley
SEC Acting Chief Accountant Urges Auditor Independence Scrutiny
October 28, 2021
Jim Hamilton's World
Climate Issues Dominate Confirmation Hearing for CFTC Chair
October 28, 2021
Washington Post
U.S. Solicitor General Confirmed
October 28, 2021
CFA Institute
The EU Sustainability Wave Begins
October 28, 2021
Reuters
Microsoft, Apple Vie for Most Valuable Company
October 27, 2021
Enhanced Scrutiny
Delaware Supreme Court Opens Door to Firms’ Contractual Waiver of Rights
October 27, 2021
Wall Street Journal
Federal Judges May Face Tougher Stock-Trading Rules
October 27, 2021
PubCo @ Cooley
FSOC Reports on Climate-Related Financial Risk
October 27, 2021
New York Times
Will SEC Add to Facebook Woes?
October 26, 2021
Jim Hamilton's World
Supreme Court Asked to Clarify “Deceptive” Trading by Outsiders
October 26, 2021
Wall Street Journal
Billionaire Tax Faces a Likely Challenge
October 26, 2021
CFA Institute
Japan Waking Up to Activists
October 26, 2021
Reuters
FTC Limits Companies that Pursued Past Anticompetitive Deals
October 25, 2021
Dealbook
Democrats Eye Billionaire Tax
October 25, 2021
PubCo @ Cooley
Manufacturers Sue to Enforce Proxy Adviser Rules
October 25, 2021
Jim Hamilton's World
FSB Aims for Uniform Reporting of Cyber Incidents
October 25, 2021
New York Times
For Young Lawyers, Getting Ahead Means Being in the Office
October 24, 2021
Conference Board
Climate Stars in Shareholder Proposals
October 24, 2021
PubCo @ Cooley
Court Mulls Blocking California’s Board Gender-Diversity Statute
October 24, 2021
Deal Lawyers.com
PE Lingo Change Is a Non-Starter
October 24, 2021
Reuters
Fed Curbs Top Officials’ Trading
October 21, 2021
SDNY Blog
SDNY Judge OKs Students’ Contract Claims Over No In-Person Classes
October 21, 2021
PubCo @ Cooley
Report Finds Board Diversity Improving
October 21, 2021
Securities and Exchange Commission
SEC Report Offers the Lowdown on GameStop and Other Meme Stocks
October 21, 2021
Reuters
White House Tells Democrats that a Corporate Tax Hike Is Unlikely
October 20, 2021
New York Times
PayPal Talks $45 Bln Pinterest Purchase
October 20, 2021
PubCo @ Cooley
SEC Chair Engages in Fireside Chat
October 20, 2021
Jim Hamilton's World
Survey Finds Boards Upping ESG Focus
October 20, 2021
Reuters
First Futures-Based Bitcoin ETF Begins Trading
October 19, 2021
PubCo @ Cooley
Can Narcissistic CEOs Be Good?
October 19, 2021
Jim Hamilton's World
Supreme Court Asked to Clarify Rule on Securities Class Actions
October 19, 2021
Securities Regulation and Corporate Governance Monitor
SEC Adopts New Rule on Filing Fee Disclosure and Payment Methods
October 19, 2021
Reuters
Senate Bill Aims to Stop Big Tech from Favoring Own Products
October 18, 2021
Valuation and Shareholder Rights Blog
Pot Firms’ Valuation Varies by State
October 18, 2021
PubCo @ Cooley
Investors Urge State Action on Climate
October 18, 2021
Jim Hamilton's World
SEC Signals Tougher Approach
October 18, 2021
Weil Private Equity Watch
What Terminating M&A Contract Means
October 18, 2021
Valuation and Shareholder Rights Blog
Are Taxes Killing Pot Firms’ High?
October 17, 2021
D&O Diary
SEC Dials Up Get-Tough Approach
October 17, 2021
CNBC
Coinbase Urges Cryptocurrency Cop
October 17, 2021
Davis Polk Financial Institutions Insights
FSB Reports on Money Market Reform
October 17, 2021
Corporate & Securities Law Blog
DOJ Sets Sights on Cryptocurrency
October 17, 2021
Reuters
Commission on Supreme Court Says Court Expansion Risky
October 14, 2021
Dealbook
LinkedIn Shuts Down Service in China
October 14, 2021
PubCo @ Cooley
SEC Makes Filing-Fee Disclosure and Payment Method Changes Final
October 14, 2021
Jim Hamilton's World
PCAOB Offers Guidance on Reliability of Audit Evidence from External Sources
October 14, 2021
Reuters
Facebook to Change Rules on Attacking Public Figures
October 13, 2021
Delaware Business Litigation Report
Delaware Chancery Awards Startup $147 Mln for Joint-Venture Contract Breach
October 13, 2021
Enhanced Scrutiny
Delaware Chancery Stresses Director Oversight After Boeing Crashes
October 13, 2021
Reuters
Alibaba’s Jack Ma Reappears
October 12, 2021
Dealbook
Harry and Meghan Get into Finance
October 12, 2021
Cooley M&A
Is Accusing Special Committee Members of Bad Faith a Trend?
October 12, 2021
Truth on the Market
Video Streaming Needs Consolidation
October 12, 2021
Wall Street Journal
SEC Digs into EPS Manipulation
October 12, 2021
Reuters
World Bank Seeks Fix to Data Rigging
October 11, 2021
Delaware Business Litigation Report
Delaware Chancery Rules Forum Selection Clause Binds Non-Signatory
October 11, 2021
D&O Diary
How to Avoid Cyber-Linked D&O Costs
October 11, 2021
Reuters
Global Tax Deal Seeks to End Havens
October 10, 2021
D&O Diary
China-Based Caymans Firm Settles One of Largest Derivative Suits Ever
October 10, 2021
Enhanced Scrutiny
Boeing Case Reveals Board Risks
October 10, 2021
Bloomberg
Many 2020, 2021 Deals Yet to Close
October 10, 2021
Reuters
BlackRock Giving More Clients the Vote
October 7, 2021
New York Times
Top NY Federal Prosecutors Confirmed
October 7, 2021
Wall Street Journal
DOJ Creates Crypto Enforcement Team
October 7, 2021
Jim Hamilton's World
Second Circuit Revives Crypto Pump-and-Dump Lawsuit
October 7, 2021
Institutional Investor
Private Equity Opacity Irks Clients
October 7, 2021
SDNY Blog
Second Circuit Upholds Rejection of Challenge to “SALT” Deduction Cap
October 6, 2021
Enhanced Scrutiny
Delaware Supreme Court Clarifies Demand Futility Standard
October 6, 2021
Wall Street Journal
Startup Seeks 24/7 Stock Exchange
October 6, 2021
Bloomberg
Gensler Says U.S. Won’t Ban Crypto
October 6, 2021
PubCo @ Cooley
Nasdaq Diversity Rule Tested Anew
October 6, 2021
Valuation and Shareholder Rights Blog
Why Reverse Veil-Piercing Matters
October 5, 2021
CNBC
Senator Warren Urges SEC Insider Trading Probe of Fed Vice Chair, Others
October 5, 2021
PubCo @ Cooley
ISS Releases Global Survey Results
October 5, 2021
Olshan Securities Law Blog
New SEC OTC Market Rule Working
October 5, 2021
Jim Hamilton's World
Supreme Court Docket Light on Securities Cases
October 5, 2021
D&O Diary
SEC Ups Cybersecurity Enforcement
October 4, 2021
Enhanced Scrutiny
Delaware Supreme Court Admits Error
October 4, 2021
PubCo @ Cooley
Companies Time Changes in Accounting Estimates to Meet Analyst Forecasts
October 4, 2021
California Corporate & Securities Law
California Board Gender-Quota Law Goes on Trial
October 4, 2021
Jim Hamilton's World
In Facebook Case, Delaware Chancery Adopts New Demand Futility Test
October 4, 2021
Jim Hamilton's World
Ninth Circuit Upholds Commodities Fraudster’s Lifetime Trading Ban
October 3, 2021
Delaware Business Litigation Report
Delaware Chancery Rules on Mandatory Preferred-Redemption Breach
October 3, 2021
Davis Polk Financial Institutions Insights
Banking Agencies Issue Guide on Fintech Due Diligence
October 3, 2021
Corporate & Securities Law Blog
Delaware Supreme Court Rules Equity Dilution Claims Are Derivative
October 3, 2021
Business Law Prof Blog
Investors Seeking Private Firm Disclosure
October 3, 2021

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