United States

Dole CEO and COO are liable for US$148 million in buyout. The New York Times reported on a Delaware Court of Chancery ruling that Dole’s chairman and its former COO have to reimburse other shareholders US$148 million for fraudulently driving down Dole’s stock price so that they could purchase the business at a cheaper price in a 2013 leveraged buyout. (8/27/2015) New York Times article.

Canada

OSC announces roundtable to discuss progress on representation of women on boards and in executive officer positions. The Ontario Securities Commission (OSC) announced that it will hold a roundtable on September 29, 2015, to discuss the advancement of women on boards and in executive officer positions. Panel discussions will include insights on how additional progress can be made. (8/31/2015) OSC news release.

OSC amends OSC Rule 48-501. The OSC has made amendments to OSC Rule 48-501, Trading during Distributions, Formal Bids and Share Exchange Transactions, and its related Companion Policy with respect to the designation requirements of an exchange-traded fund. The amendments remove the requirement that the Director designate an exchange-traded fund in order for trading in units of the fund to be exempt from the provisions of Rule 48-501. (8/20/2015) OSC Rule 48-501.