Ropes & Gray Discusses the California Climate Bill Almost No One Is Talking About

By Michael Littenberg and Marc Rotter October 12, 2023 by renholding

There have been dozens – and probably hundreds – of client alerts, briefs, white papers and other thought leadership pieces on the California bills awaiting signature that will require greenhouse gas emissions (SB 253) and climate risk (SB 261) disclosures. …

Arnold & Porter Discusses California’s Corporate Emissions Disclosure and Climate-Risk Reporting Legislation

By Yuvaraj Sivalingam August 31, 2023 by renholding

The California legislature returned from summer recess two weeks ago, and two key bills regarding corporate emissions disclosures and climate-related financial risk reporting are being considered and could be sent to the governor’s desk for signature by next month.

Senator …

New California Legislation Would Be a Major Step Forward for Climate Disclosure

By Michael B. Gerrard and Eric W. Orts July 20, 2023 by renholding

The Securities and Exchange Commission regulations on climate disclosure, first proposed in March 2022 and likely to be issued in final form in October 2023,[1] have drawn considerable controversy and face an uncertain fate in the inevitable litigation.[2]…

Arnold & Porter Discusses California Challenge to Rulings Rejecting Board Diversification

By Teresa L. Johnson, Sean M. SeLegue, Amy Endicott and Ernesto M. Hernández August 10, 2022 by renholding

The California Secretary of State has appealed a decision by the Los Angeles County Superior Court striking down the second of California’s two board diversity laws, which required all publicly traded companies headquartered in California to include a minimum number …

Skadden Discusses Court Decision Striking Down Women on Boards Law

By Virginia Milstead May 20, 2022 by renholding

On May 13, 2022, a judge of the Los Angeles County Superior Court ruled in Crest v. Padilla, Case No. 19STCV27561, that California’s statute requiring California-based public companies to have one to three women on their boards of directors (S.B. …

Sullivan & Cromwell Discusses California Governor’s Executive Order on Blockchain

By Aaron Levine, Michelle Thiry, Rebecca Simmons and Sarah Payne May 11, 2022 by renholding

On May 4, California Governor Gavin Newson signed an executive order that is intended “to foster responsible innovation, bolster California’s innovation economy, and protect consumers” and “create a transparent regulatory and business environment for web3 companies which harmonizes federal and …

Arnold & Porter Discusses Attacks on Board Diversity Initiatives

By Amy Endicott, Teresa L. Johnson, Sean M. SeLegue and Kaitlin Robinson May 5, 2022 by renholding

Nasdaq’s Board Diversity Rule, approved by the Securities and Exchange Commission (SEC) in August 2021, is the subject of an ongoing, high stakes court battle in the United States Court of Appeals for the Fifth Circuit. The attorneys general of …

Sullivan & Cromwell Discusses Court Decision Invalidating California Board Diversity Law

By Patrick S. Brown, Diane L. McGimsey, Adam S. Paris, Alexandria M. Ross and John L. Savva April 6, 2022 by renholding

On April 1, 2022, in Crest v. Padilla, California Superior Court Judge Terry Green granted summary judgment in favor of plaintiffs who had challenged AB 979, one of California’s two board diversity statutes, as violating the California Constitution. The …

ISS Discusses Women on California Boards

By Paul Hodgson March 15, 2022 by renholding

Since 1995, US presidents have issued a series of annual proclamations designating March as Women’s History Month to celebrate the contributions women have made to the US and recognize the specific achievements women have made over the course of American

…

Skadden Discusses California Decision Upholding Uber’s Federal Forum Charter Provision

By Peter B. Morrison, Virginia Milstead and Zachary Faigen December 4, 2020 by Nisha Chandra

A California state court dismissed a putative securities fraud class action against Uber, as well as certain individuals and underwriters, on the grounds of inconvenient forum, holding that the federal forum selection provision (FFP) in Uber’s charter was valid and

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Goodwin Procter Discusses Shareholder Suits to Increase Board Diversity

By Alexis Coll-Very, Deborah S. Birnbach and Jade T. White November 17, 2020 by Nisha Chandra

A lot of attention has been paid to board diversity – or lack thereof – in recent months. California enacted AB-979, which expanded upon California’s earlier gender diversity law and requires boards to make strides in other types of diversity, …

Racial Diversity, Gender Equality, and Corporate Governance: An Update

By Michael W. Peregrine November 6, 2020 by renholding

Corporate governing boards have a substantial homework assignment given multiple important developments affecting board composition and oversight of workforce culture. These developments encompass new surveys from prominent governance and consulting sources, notable litigation trends, and a new state law. Collectively, …

Racial Diversity and Corporate Governance: Assessing California’s New Board Diversity Mandate

By Courtney Murray and Eric Talley October 28, 2020 by renholding

Corporate governance is historically perceived as a specialized, idiosyncratic and somewhat arcane field. But increasingly, it has come to serve as a lightning rod for broader public debates. Perhaps no moment underscores this trend more sharply than the 2020 …

Arnold & Porter Discusses California Law Requiring “Underrepresented Community” Members on Boards

By Teresa L. Johnson and Amy Endicott October 2, 2020 by renholding

On September 30, 2020, California Governor Gavin Newsom signed into law a landmark bill (AB 979) requiring boards of directors of California-based public reporting corporations to have a minimum number of directors from underrepresented communities on their boards.

Definition of

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Skadden Discusses California Ruling Upholding Exclusive Federal Forum Charter Provision

By Virginia Milstead, Peter B. Morrison and Raza Rasheed September 22, 2020 by snehapandya

On September 1, 2020, Judge Marie S. Weiner of the San Mateo County, California Superior Court held that an exclusive federal forum provision was enforceable under California law. See Wong v. Restoration Robotics, Inc., No. 18CIV02609 (Cal. Super. Ct., Sept. …

The Contested Edges of Internal Affairs

By Mohsen Manesh September 23, 2019 by renholding

During a four-month span in late 2018, two events occurred at opposite ends of the country that could dramatically reshape the regulation of corporations in America. First, in September 2018, California enacted the nation’s first law mandating board gender diversity…

How to Increase Gender Diversity on Private Company Boards

By Jennifer S. Fan June 12, 2019 by renholding

There are more women than ever on public company boards, but private companies have not kept pace. Legal scholarship has tended to focus on women on public company boards perhaps in part due to the relative absence of information about …

“Centros,” California’s ‘Women on Boards’ Statute, and the Scope of Regulatory Competition

By Jill E. Fisch and Steven Davidoff Solomon May 30, 2019 by renholding

It has been 20 years since the European Court of Justice issued its decision in Centros Ltd. v. Erhvervs – og Selskabsstyrelsen (Centros). Since that time, Centros has been widely understood as shifting the European Union (EU) from …

Insider Trading and Disclosure: The Case of Cyberattacks

By Eli Amir, Shai Levi and Tsafrir Livne April 25, 2019 by renholding

The U.S. Securities and Exchange Commission (SEC) recently identified incidents in which top executives sold shares before disclosing to the public negative information about cyberattacks. For example, the former chief information officer of Equifax, Jun Ying, exercised his stock options …

Diversity’s Role in Boardroom Leadership

By Joseph Mandato and William Devine April 19, 2019 by renholding

What does boardroom culture yield when a board commits to a broad embrace of diversity—including diversity of gender, ideas, ethnicity, race, education, age, and skills? Do chances improve for decisions that help lead the company to maximize its potential and …

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The CLS Blue Sky Blog

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