The staff of the SEC Division of Investment Management withdrew 2010 guidance which reviewed the permissibility of an SEC-registered, closed-end fund determining to opt in to a control share acquisition statute authorized under state law.
The New York State Department of Financial Services provided temporary regulatory relief for New York-chartered financial institutions concerning (i) conducting in-person meetings and (ii) holding annual stockholder meetings.
The Delaware Chancery Court decision serves as a powerful reminder of the broad freedom of contract that Delaware law accords entities such as LLCs. The decision offers the promise of great latitude to contracting parties and the threat of serious pitfalls for parties that fail to carefully protect their interests in the agreement.
Cadwalader attorneys reviewed a recent decision by the Delaware Court of Chancery that offers insight into the factors a court will consider persuasive in determining whether an enforceable oral contract has been formed between parties.
In a memorandum titled: "2016 Year in Review: Corporate Governance Litigation and Regulation," Cadwalader attorneys discuss significant judicial and regulatory developments in mergers and acquisitions, controlling shareholders, indemnifications and jurisdictions, and shareholder and proxy access.
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