judge dismissed lawsuit in which Icahn accused Wachtell of “malpractice related to…hostile takeover of CVR”; “could file an amended complaint…that Wachtell committed malpractice by describing the fee terms as ‘customary’ in regulatory filings” https://t.co/zkDsoBda67 #corpgov
— Stefan Padfield (@ProfPadfield) September 30, 2018
“when the debate shifts to federal .. contexts, one often finds .. the political left championing expansion of shareholders’ corporate governance powers, and those associated with the political right advancing more stakeholder-centric conceptions” 2018 B.Y.U. L. Rev. 267 #corpgov
— Stefan Padfield (@ProfPadfield) September 30, 2018
Hobby Lobby & Nevada’s decision to eliminate mandatory fiduciary duties: “visceral critiques … suggest … the corporation is a device that should be optimized for collective action of a particular type–namely large-scale economic activity.” 8 Harv. Bus. L. Rev. 183 #corpgov
— Stefan Padfield (@ProfPadfield) September 30, 2018
Monday, Musk tweets an “O.P.P.” reference. Some in the market interpret as: “operating profit positive.” Yesterday: “Tesla … announced that it had hit its production target …. the overarching message … that it may finally … make money” https://t.co/ppj6P5FiCa #corpgov
— Stefan Padfield (@ProfPadfield) October 3, 2018
While SCOTUS has not held it unconstitutional “for a state other than the state of incorporation to attempt to regulate a corporation’s internal affairs, … commentators have concluded that the internal affairs rule rises to the level of a constitutional doctrine.” #corpgov https://t.co/iO51V0x09p
— Stefan Padfield (@ProfPadfield) October 3, 2018
“judges have previously held … that even double-digit drops in quarterly results are not sufficient to trigger a MAC. But … the change in Akorn’s prospects wasn’t just a short-term fluctuation or … industrywide headwinds that Fresenius should have known” #corpgov https://t.co/mra1pej3PU
— Stefan Padfield (@ProfPadfield) October 3, 2018