Report: “61 percent of the costs of merger and acquisition securities litigation went to lawyers …. shareholders received nothing in 85 percent of settled merger objection claims in the past five years” https://t.co/mzUMtF5VUk #corpgov
— Stefan Padfield (@ProfPadfield) June 14, 2019
“Staying out of the investments for 16 years had cost the fund more than $3.5 billion, a fund consultant calculated. After a debate, the board not only kept the ban but expanded it to cover investments made by external managers.” https://t.co/0ENG4p9gEf #corpgov
— Stefan Padfield (@ProfPadfield) June 17, 2019
“The intracorporate communications doctrine provides an absolute defense to a defamation claim…. by deeming communications among members of the entity, under the appropriate circumstances, simply … not published.” https://t.co/oazK5OH6tW #corpgov
— Stefan Padfield (@ProfPadfield) June 14, 2019
The SEC “today charged KPMG LLP with altering past audit work after receiving stolen information about inspections of the firm that would be conducted by the Public Company Accounting Oversight Board (PCAOB).” https://t.co/k1wvCWRbKh #corpgov
— Stefan Padfield (@ProfPadfield) June 17, 2019
“a statement can be shown to be false by the materialization of a risk that was concealed by the company .. Although this materialization doctrine is well established, it is the thesis here that its ultimate effect is to over-compensate investors” https://t.co/syTEr5cPbL #corpgov
— Stefan Padfield (@ProfPadfield) June 14, 2019