“A proxy advisor who provides voting recommendations … that … lack bias may significantly increase a company’s intrinsic value and its stock price. However, if a recommendation … was created with significant bias, then it may significantly decrease its value.” https://t.co/fzuHxhvfyN
— Stefan Padfield (@ProfPadfield) November 3, 2019
“we examine the effect of the Supreme Court’s decision in Morrison v. National Australia Bank Ltd. We find that the description of Morrison as a steamroller, substantially ending litigation against foreign issuers, is a myth.” https://t.co/n1YaeO5fgd #corpgov
— Stefan Padfield (@ProfPadfield) November 4, 2019
“In 2019, shareholders submitted over 380 Environmental and Social-related proposals to S&P 1500 companies; 160 of these proposals reached a vote.” https://t.co/UxKez1Fu2O
— Stefan Padfield (@ProfPadfield) November 3, 2019
“Under current Delaware case law, courts have allowed Caremark claims to proceed where evidence exists to infer that … the directors engaged in disobedience by knowingly managing legal risk or flouting, violating, or ignoring the law.” https://t.co/DRtNy9YpAO #corpgov
— Stefan Padfield (@ProfPadfield) November 5, 2019
“a ‘down round’ … entitles the holders of this ratchet provision … to additional shares that place them in the same … economic position as if the IPO had priced at a level equal to the last private-equity round valuation” #corpgov https://t.co/7nGZY5vqml
— Stefan Padfield (@ProfPadfield) November 6, 2019