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Companies faced with a shareholder proposal submitted under Rule 14a-8 often seek to exclude the proposal from the proxy statement by submitting a no-action letter to the SEC Staff, citin...
Following a meeting of the Board of Directors of the FDIC on Thursday, July 2, 2009, the FDIC issued a Proposed Statement of Policy on Qualifications for Failed Bank Acquisitions for publ...
The Obama Administration’s draft legislation for the Consumer Financial Protection Agency Act of 2009 was sent to the Congress on June 30, 2009. The proposed legislation would make swee...
In response to the turmoil that rippled through money market funds and credit markets last fall when the Reserve Primary Fund’s net asset value fell below $1.00 or “broke the buck,”...
The SEC voted today (3-2) to eliminate broker discretionary voting in director elections for meetings held on or after January 1, 2010. Previously, brokers were permitted to vote uninstru...
Among the many companies suffering from the current economic turbulence are portfolio companies of private equity firms. One recent study estimated that nearly 50% of all companies owned ...
Two decisions were issued last week in separate bankruptcy cases that might be of interest to our clients. In one, a Delaware District Court issued an opinion further constraining the use...
Informal comments by representatives of the IRS suggested for the first time on June 12, 2009 that investments in certain types of foreign hedge funds may constitute foreign financial acc...
The Federal Trade Commission (“FTC”) yesterday fined John C. Malone, CEO and Chairman of Discovery Holding Company (“Discovery”), $1.4 million to settle allegations that he violat...
The Obama Administration’s White Paper on Financial Regulatory Reform is just the beginning of what is likely to be a legislative, regulatory and ideological marathon, despite the Admin...