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  • John C. Coffee, Jr. – Mass Torts and Corporate Strategies: What Will the Courts Allow? By John C. Coffee, Jr.
  • Compliance’s Next Challenge: Polarization By Miriam H. Baer
  • Will the Common Good Guys Come to the Shootout in SEC v. Jarkesy? And Why It Matters By Eric W. Orts
  • Climate Disclosure Line-Drawing and Securities Regulation By Virginia Harper Ho
  • Board Committee Charters and ESG Accountability By Lisa M. Fairfax
  • Asset Managers as Regulators Comment bubble 1 By Dorothy S. Lund
  • Reforming the Macroprudential Regulatory Architecture in the United States By Kathryn Judge and Anil Kashyap
  • Predicting the Unpredictable: What Will Musk Do Next? By John C. Coffee, Jr.
Editor-At-Large Reynolds Holding

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Columbia Law School's Blog on Corporations and the Capital Markets

Editorial Board John C. Coffee, Jr. Edward F. Greene Kathryn Judge

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Paul Weiss Discusses How to Mitigate SPAC Litigation Exposure

By Brad S. Karp, Lewis R. Clayton, Jessica S. Carey, Gregory F. Laufer and Geoffrey R. Chepiga March 26, 2021 by Nisha Chandra

The explosive growth in Special Purpose Acquisition Companies (“SPACs”)[1] is starting to generate significant amounts of litigation. Scores of civil lawsuits have been filed against SPAC sponsors and/or their directors and officers since the start of 2020, with more …

Are Audit Committees Suffering from Overload?

By Musaib Ashraf, Preeti Choudhary and Jacob Jaggi August 27, 2019 by renholding

Audit committee responsibilities have consistently increased, and practitioners have raised concerns that audit committees may be overloaded with duties. For example, in a 2005 interview, one audit committee member noted, “It’s becoming almost excessive. We get press releases almost weekly …

1 Comment  

Going Concern Opinions, Institutional Ownership, and CEO Compensation

By Ning Ren and Yun Zhu October 22, 2018 by renholding

Auditors issue going concern opinions when they have substantial doubts about a client’s ability to continue as a going concern for one year beyond the financial statement date. Abundant anecdotal evidence shows that  companies that received these opinions went through …

The Consequences of Restatements for Outside Directors

By Daniel Street July 13, 2018 by renholding

Serving on a public company’s board of directors carries responsibilities and risks as well as benefits for directors.  If directors do not carry out their duties effectively, they risk damaging their reputation, losing their board seats, and facing shareholder lawsuits.  …

Fried Frank Discusses the Obligations of LLC Directors and Managers

By Gail Weinstein, Steven J. Steinman, Brian T. Mangino, Randi Lally and Maxwell Yim June 20, 2018 by renholding

There are now more than twice as many entities formed in Delaware as LLCs and other alternative entities as are formed as corporations. Private equity funds and hedge funds often are formed as LLCs or limited partnerships to take advantage …

Boards Should Use Diversity as a Defense Against Activists

By George Tepe September 21, 2017 by renholding

Many institutional investors have made increasing the diversity of corporate boards a priority, yet activist investors that rely on the support of these institutional investors often make boards less diverse. Boards should take advantage of this divergence between the priorities …

How Sarbanes-Oxley Affects Board Changes and CEO Turnover

By Mustafa A. Dah, Melissa B. Frye and Matthew Hurst July 10, 2017 by renholding

Following the corporate governance scandals of the early 2000s, the effectiveness of board monitoring came into question. In response, Congress passed the Sarbanes-Oxley Act of 2002 (SOX) in an attempt to increase monitoring and improve corporate governance. In conjunction with …

Morrison & Foerster Explains How Delaware Paves the Way for Blockchain Technology

By Spencer D. Klein and F. Dario de Martino March 31, 2017 by renholding

Following last May’s announcement of the “Delaware Blockchain Initiative” by former Delaware Governor Jack Markell[1], on March 13, 2017, the Corporate Council of the Corporation Law Section of the Delaware State Bar Association released groundbreaking draft legislation proposing …

The Unethical Leader: Who Follows?

By Eric N. Johnson, Linda Kidwell, D. Jordan Lowe and Philip Reckers March 28, 2017 by renholding

When high-profile cases of fraud make the news, we often focus our attention on the CEO or other C-suite executives, asking what signs were missed and how we might better anticipate who might commit fraud. Academics have researched the characteristics …

Skadden Discusses Section 16 Settlements

By Brian V. Breheny, Neil M. Leff, Erica Schohn, Joseph M. Yaffe and Josh LaGrange March 9, 2017 by Jeff Himelson

The so-called “short-swing profit rule” under Securities Exchange Act Section 16(b) generally prohibits officers and directors as well as 10 percent shareholders of a U.S. public company from profiting from any purchase or sale (or sale and purchase) of the …

Cleary Gottlieb Offers Advice on Responding to a Social Media Attack

By Arthur Kohn, Pamela Marcogliese, Laurent Alpert and Mai Li March 3, 2017 by renholding

President Trump has repeatedly used his Twitter account to single out companies for criticism of their business practices, raising the question for a broad range of public companies of how to prepare for and potentially respond to such criticism.  Of …

Hedge Fund Activism as a Conflict of Entrepreneurship

By Alessio M. Pacces February 22, 2017 by renholding

Hedge funds have boosted shareholder activism worldwide. In my recent article, I discuss the policy response to hedge fund activism. I argue that the short-termism debate cannot shed light on the desirability of such activism. Rather, hedge fund activism should …

Cleary Gottlieb Explores What’s Next in UK Corporate Governance Reform

By Simon Jay and Melissa Reid January 19, 2017 by renholding

On November 29, 2016, Prime Minister Theresa May’s government issued a green paper[1] (the “Green Paper”) to canvass opinion on proposed reforms to the UK’s corporate governance framework.

A green paper is a government consultation document that …

Making Sense of Corporate Governance in U.S. Firms

By Dina F. El Mahdy December 16, 2016 by renholding

Corporate governance has become even more important since the collapse of major firms in the 1990s and the global financial crisis of 2007-2008, and the relationship between financial reporting and the capital markets is a big reason why. The debate …

Sullivan & Cromwell Reviews and Analyzes 2016 U.S. Shareholder Activism

By Glen T. Schleyer, Stephen M. Guynn, Korey R. Inglin, Tengteng Peng and Chenjing Shen December 15, 2016 by renholding

Shareholder activism remains a major force in corporate decision-making in 2016 but is increasingly operating in an environment of robust, multi-faceted shareholder engagement, particularly at large companies. The time and effort that companies and institutional investors have spent developing a …

Skadden Analyzes Two Important Deal Litigation Cases from Delaware Chancery

By Amy C. Huffman and Lauren N. Rosenello December 13, 2016 by renholding

In In re Chelsea Therapeutics International LTD Stockholders Litigation, Vice Chancellor Sam Glasscock III of the Delaware Court of Chancery dismissed claims that Chelsea Therapeutics International Ltd.’s (Chelsea) board of directors acted in bad faith by selling Chelsea to …

Skadden Discusses Delaware’s Corwin Case and the High Bar for Post-Closing Damages

By Joseph Larkin and Shaivlini Khemka December 6, 2016 by renholding

The Delaware Supreme Court’s landmark decision in Corwin v. KKR Financial Holdings  LLC, 125 A.3d 304 (Del. 2015) articulated a new defendant-friendly rule for post-closing damages actions for breaches of fiduciary duties. The Delaware Supreme Court held that where a …

Gibson Dunn Discusses Proxy Advisers’ 2017 Voting Guidelines

By Elizabeth Ising, Lori Zyskowski and Ronald Mueller December 5, 2016 by renholding

The two most influential proxy advisory firms–Institutional Shareholder Services (ISS) and Glass, Lewis & Co. (Glass Lewis)–recently released their updated proxy voting guidelines for 2017.  The key changes to the ISS and Glass Lewis policies are described below along with …

Ropes & Gray Discusses Recent Proxy Access Developments

By Paul Kinsella and David Fine November 18, 2016 by renholding

To date, nearly 300 companies have adopted proxy access bylaws, including over 40 percent of S&P 500 companies. Given the widespread adoption of proxy access by large U.S. companies, it was only a matter of time before a shareholder actually …

Director Networks and Credit Ratings

By Bradley W. Benson, Subramanian R. Iyer, Kristopher Kemper and Jing Zhao November 16, 2016 by renholding

In the aftermath of the most recent financial crisis, credit rating agencies (CRAs) once again received a portion of the blame.  Similar to the negative CRA attention that followed the Asian Financial Crisis in 1997 and the dot.com bubble of …

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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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Reuters
Stellantis to Cut Detroit SUV Production
December 7, 2023
Dealbook
Tesla Fighting With Sweden’s Unions
December 7, 2023
Bloomberg
Binance Is Law Abiding Now
December 7, 2023
CoinDesk
Jamie Dimon Bashes Crypto
December 7, 2023
D&O Diary
First Product-Safety Case Nails Execs
December 6, 2023
Sidley Enhanced Scrutiny
Scotus Mulls Omissions as Fraud
December 6, 2023
Bloomberg
Call Accountant After a Cyber Breach
December 6, 2023
Wall Street Journal
SEC Chair Warns Against “AI Washing”
December 6, 2023
New York Times
Bitcoin Soars on ETF Hopes
December 6, 2023
Axios
SEC “Crypto Mom” Withholds Love
December 5, 2023
Wall Street Journal
SEC Scrutiny Makes Non-Disclosure Tricky
December 5, 2023
Bloomberg
Banks Struggling to Watch Staffers
December 5, 2023
Reuters
Israel Probes Pre-Hamas Attack Trades
December 5, 2023
PubCo @ Cooley
SEC Top Accountant Talks Cash Flows
December 5, 2023
Sidley
Delaware Chancery Denies Advance for Legal Fees in Rare Trial
December 4, 2023
Wall Street Journal
Binance Cops DOJ Plea, but SEC Next
December 4, 2023
Reuters
Prison Official Took Rajaratnam Bribe
December 4, 2023
Justice Department
FBI Trainee Guilty of Insider Trading
December 4, 2023
PubCo @ Cooley
SEC ALJs May Go Down, but Administrative State Probably Won’t
December 4, 2023
Bloomberg
Fake WeWork Rescuer an Hour Late
December 3, 2023
PubCo @ Cooley
SEC Concedes on Buyback Rule Flaws
December 3, 2023
Jim Hamilton's World
Defining Accredited Investor Roils SEC
December 3, 2023
Cooley M&A
How to Handle Equity Awards in Deals
December 3, 2023
Business Law Prof Blog
A Tale of Two Anti-Activist Bylaws
December 3, 2023
Bloomberg
SoFi Technologies Exiting Crypto
November 30, 2023
D&O Diary
Should Short-Seller Reports Give Weight to Securities Class Actions?
November 30, 2023
Yahoo Finance
Scotus Seems Down on SEC Courts
November 30, 2023
PubCo @ Cooley
Big Comp Committee Issues Next Year
November 30, 2023
Deal Lawyers.com
Second Circuit Narrows Safe Harbor from Fraudulent Transfer in LBO
November 30, 2023
Reuters
Disney CEO Iger Promises 2026 Exit
November 29, 2023
Wall Street Journal
Scotus Mulls Right to Trial by Jury
November 29, 2023
Bloomberg
Might the SEC Lose Its Courts?
November 29, 2023
Jim Hamilton's World
SEC Adopts New Rule on Asset-Backed Securities Conflicts of Interest
November 29, 2023
Deal Lawyers.com
U.S. Court Says Info About Alternative Deal Structure Immaterial for Disclosure
November 29, 2023
New York Times
Amazon Unveils Q, AI Chatbot for Firms
November 28, 2023
D&O Diary
SPAC-Linked Securities Suit Hits EV Firm
November 28, 2023
Reuters
New California Law Requires VC, Private Equity Firms to Report Diversity
November 28, 2023
Bloomberg
MLB, Formula 1 Face Fraud Suits for Promoting FTX Cryptocurrency
November 28, 2023
PubCo @ Cooley
U.S. Court Seems Open to Seeing “Shadow Trading” as Insider Trading
November 28, 2023
Reuters
SEC Adopts Trader Conflicts Rule
November 27, 2023
Bloomberg
Deregulation Talk Scaring Crypto World
November 27, 2023
PubCo @ Cooley
Fifth Circuit Denies SEC More Time to Fix Share Repurchase Rule
November 27, 2023
LinkedIn
Travis Laster Answers Ex-AG Barr’s Criticism of Delaware ESG Flirtation
November 27, 2023
Delaware Corporate & Commercial Litigation Blog
Delaware Chancery Talks Fee Shifting
November 27, 2023
Wall Street Journal
Binance Penalties Include Crypto Firsts
November 26, 2023
PubCo @ Cooley
SEC Delays Share Repurchase Rule
November 26, 2023
Securities Regulation and Corporate Governance Monitor
Update on SEC’s Universal Proxy Rules
November 26, 2023
Delaware Corporate & Commercial Litigation Blog
Delaware Chancery Clarifies Third-Party Shareholder Beneficiary Rights
November 26, 2023
Business Law Prof Blog
Do ESG Laws Violate Free Speech?
November 26, 2023
Investment Executive
Lagarde Calls for European SEC
November 21, 2023
Securities and Exchange Commission
SEC Dings Kraken for Being Unregistered
November 21, 2023
Reuters
SEC May Curb Climate Rule Ambitions
November 21, 2023
Bloomberg
DOJ Seeks over $4 Bln from Binance
November 21, 2023
Jim Hamilton's World
SEC Rule Aims at Clearinghouse Conflicts
November 21, 2023
Reuters
OpenAI Investors Consider Suing Board
November 20, 2023
Dealbook
Cybersecurity Suit a Hot Board Topic
November 20, 2023
Wall Street Journal
Wall Street’s ESG Craze Is Fading
November 20, 2023
PubCo @ Cooley
SEC Issues New CDIs on Proxy Rules
November 20, 2023
Jim Hamilton's World
CFTC Mulls Offering Guidance on Crypto and Carbon Markets
November 20, 2023
D&O Diary
Hackers Gripe to SEC About Hack
November 19, 2023
New York Times
Bitcoin Fund Lifts Cryptocurrency Price
November 19, 2023
Washington Post
Feds Mount SEC Cyber-Rule Defense
November 19, 2023
Reuters
Doubt Over SEC Administrative Enforcement Boosts Private Actions
November 19, 2023
Corporate & Securities Law Blog
Ninth Circuit Clarifies SEC Rule 16b-3 Short-Swing Profit Liability Exemption
November 19, 2023
Reuters
IBM Suspends Advertising on X
November 16, 2023
New York Times
UAW Workers Back Big 3 Contracts
November 16, 2023
NY’s New Cryptocurrency Listing Rules
November 16, 2023
Bloomberg
WeWork’s Rescue Wasn’t Real
November 16, 2023
Bloomberg
Hedge Fund Fraudster Spared Prison
November 16, 2023
Wall Street Journal
Elusive Soft Landing Comes Into View
November 15, 2023
New York Times
The Inflation Rally Goes Global
November 15, 2023
Bloomberg
Short Sellers Become SEC Tipsters
November 15, 2023
Reuters
Blockchain Firm Dfinity Loses Defamation Suit Against Times, Crypto Analyst
November 15, 2023
PubCo @ Cooley
SEC Charges Charter on 10b5-1 Plans
November 15, 2023
Reuters
U.S. House Finally Passes Spending Bill
November 14, 2023
D&O Diary
IPO Revival May Take Awhile
November 14, 2023
Financial Review
Investors Using AI to Find Out What Executives Really Thinking
November 14, 2023
Washington Post
Bitcoin Wallets Created Before 2016 at Risk of Being Hacked
November 14, 2023
PubCo @ Cooley
PCAOB Offers Questions that Audit Committee Members Might Want to Ask
November 14, 2023
Reuters
U.S. Supreme Court Unveils Ethics Code
November 13, 2023
Wall Street Journal
SBF’s Parents Are Still His Biggest Fans
November 13, 2023
Bloomberg
Fake Goldman Insider Gets 16 Years for Alibaba IPO Share Scam
November 13, 2023
Washington Post
Regulating Crypto to Death Is OK
November 13, 2023
Jim Hamilton's World
U.S. House Bill Would Halt Funding of SEC Crypto Enforcement Actions
November 13, 2023
Dealbook
What’s a Fair Sentence for SBF?
November 12, 2023
D&O Diary
Geopolitical Risk Sparks Securities Suit
November 12, 2023
Reuters
Allen & Overy Hit by “Data Incident”
November 12, 2023
Bloomberg
Biggest Bank Forced to Reroute Trades
November 12, 2023
Jim Hamilton's World
SEC Urged to Amend Definition of “Smaller Reporting Company”
November 12, 2023

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