New York State Department of Financial Services Superintendent Maria Vullo reminded regulated entities that they must be in full compliance with the requirements of NYDFS cybersecurity regulation by March 1, 2019.
The Enforcement Section of the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth filed a Complaint against a broker-dealer and its agent for violating state securities laws.
The Delaware Court of Chancery determined that a conflict of interest attendant to a breach of fiduciary duty could be present based solely on the Court’s perception that a shareholder director had a short-term investment outlook.
The Delaware Court of Chancery determined for the first time that a seller had suffered a "Material Adverse Effect" following the execution of a merger agreement. The determination entitled the buyer to terminate an acquisition transaction.
Beginning on October 1, 2018, financial service companies holding check casher and virtual currency business activity licenses may transition those licenses to the Nationwide Multistate Licensing System and Registry.
New York Department of Financial Services Superintendent Maria Vullo reminded all DFS-regulated entities covered by DFS's cybersecurity regulation that the third transitional period of New York's "first-in-the-nation" cybersecurity regulation terminates on September 4, 2018.
In a Mergers and Acquisitions Update, Cadwalader attorneys reviewed two recent decisions by the Delaware Court of Chancery that highlight the importance of a company's sales process in shaping the outcome of an appraisal proceeding.
The Delaware Court of Chancery denied a motion to dismiss a lawsuit brought by a stockholder who challenged a voting proxy agreement and two stock issuances concerning a corporate merger and an acquisition.