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Delaware Supreme Court Holds That Seller’s Changes to Operations Because of COVID-19 Breached the Ordinary Course Covenant and Relieved Buyer of Its Obligation to Close

USA - December 21 2021 On Dec. 8, 2021, the Delaware Supreme Court in AB Stable VIII LLC v. MAPS Hotels and Resorts One LLC, No. 71, 2021 (Del. Dec. 8, 2021) affirmed the…

Jonathan M. Wagner, Alan R. Friedman, Adi Herman, Arthur H. Aufses III, Daniel Ketani, Shari Kahn Krouner, Todd E. Lenson, Thomas E. Molner, Jordan M. Rosenbaum

SEC Staff Guidance Signals Agency Review of Companies’ Current ESG and Climate-Related Disclosures

USA - October 1 2021 Despite SEC Chair Gary Gensler’s recent statement that formal rules related to Environmental Social Governance (ESG) may slip to next year, the SEC…

Alan R. Friedman, Shari Kahn Krouner, Todd E. Lenson, Thomas E. Molner, Julia A. Quigley, Jordan M. Rosenbaum, Charles S.Warren

SEC Approves Nasdaq Rule Changes Aimed at Expanding Boardroom Diversity

USA - August 11 2021 As we have discussed in prior alerts (here and here), expanding boardroom diversity has been a recent focus for many regulators, issuers, shareholders…

Alan R. Friedman, Shari Kahn Krouner, Kerri Ann Law, Todd E. Lenson, Thomas E. Molner, Nolan J. Robinson, Jordan M. Rosenbaum, Ernest S.Wechsler, Terrence L. Shen, George M. Silfen, Steven S. Sparling

SEC Charges SPAC and Sponsor for Alleged Misrepresentations in Preliminary Proxy Filing Arising From Due Diligence Failures

USA - July 27 2021 On July 13, 2021, the Securities and Exchange Commission announced partially settled charges against the Special Purpose Acquisition Company Stable…

Jonathan M. Wagner, Alan R. Friedman, Adi Herman, Arthur H. Aufses III, Ilya Kontorovich, Gary P.Naftalis, Ernest S.Wechsler

SEC Announces Spring 2021 Regulatory Agenda

USA - June 16 2021 On Friday, June 11, the Securities and Exchange Commission (SEC) filed its Agency Rule List for Spring 2021 with the Office of Management and Budget…

Alan R. Friedman, Shari Kahn Krouner, Kerri Ann Law, Todd E. Lenson, Thomas E. Molner, Julia A. Quigley, Jordan M. Rosenbaum, Charles S.Warren, Steven S. Sparling