Judge declared SEC failed to demonstrate that Blockvest initial coin offering met the characteristics of a security under US law. The case will go to trial. Judge “was not satisfied … that investors had expected to make a profit on the tokens.” https://t.co/o8BPTpYf7z #corpgov
— Stefan Padfield (@ProfPadfield) November 28, 2018
“When [valuation] disagreement exists, firms have the incentive to .. [issue] claims that are targeted to subsets of the assets … This capital structure fragmentation .. can be .. inefficient, b/c it creates .. valuation disputes in bankruptcy.” https://t.co/7kLjjvccol #corpgov
— Stefan Padfield (@ProfPadfield) November 29, 2018
“The father of the index fund says it’s probably only a matter of time before they own half of all U.S. stocks; ‘I do not believe that such concentration would serve the national interest.’” #corpgov https://t.co/iaKadfn5y0
— Stefan Padfield (@ProfPadfield) November 29, 2018
“New research from the American Council for Capital Formation identifies a troubling number of assets mangers that are automatically voting in alignment with proxy advisor recommendations, in a practice known as ‘robo-voting.'” https://t.co/VVijpJ1vul
— Stefan Padfield (@ProfPadfield) November 29, 2018
“common ownership is suspected to be associated with illegal or anti-competitive practices …. This has led to scholarly suggestions for regulatory action that would have the effect of throttling fundamental shareholder rights.” https://t.co/jl0l7aTXZZ
— Stefan Padfield (@ProfPadfield) December 2, 2018