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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, Christopher Auguste, George M. Silfen, Jordan M. Rosenbaum, Kerri Ann Law, Nolan J. Robinson, Shari Kahn Krouner, Steven S. Sparling, Terrence L. Shen, Thomas E. Molner, Todd E. Lenson.

Sustained or Transitory? Delaware Court of Chancery Finds No MAE Absent Proof of Durationally Significant Effect on Business

USA - August 3 2021 Prior to the Delaware Court of Chancery’s opinion in Akorn, Inc. v. Fresenius Kabi AG, C.A. No. 2018-0300-JTL, 2018 WL 4719347 (Del. Ch. Oct. 1, 2018)…

Adi Herman, Alan R. Friedman, Arthur H. Aufses III, Daniel Ketani, Jonathan M. Wagner.

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…

Adi Herman, Alan R. Friedman, Arthur H. Aufses III, Christopher Auguste, Gary P.Naftalis, Ilya Kontorovich, Jonathan M. Wagner.

An Ounce of Prevention: Delaware Court of Chancery Orders Specific Performance in Private Equity Deal Nearly a Year After Deal Collapse

USA - May 24 2021 After a year of expedited litigation, including five days of trial, on April 30, 2021, Chancellor (then Vice Chancellor) Kathaleen McCormick of the…

Adi Herman, Alan R. Friedman, Alexander Gelb, Arthur H. Aufses III, Daniel Ketani, Jonathan M. Wagner.

Recent SPAC Litigation Focusing on State Law Claims

USA - April 7 2021 Most of the recent shareholder litigation that has followed the current wave of Special Purpose Acquisition Company (SPAC) offerings and associated…

Adi Herman, Alan R. Friedman, Anna Boltyanskiy, Arthur H. Aufses III, Christopher Auguste, Jonathan M. Wagner, Kerri Ann Law, Thomas E. Molner.