On February 26, 2010, the Delaware Court of Chancery upheld
Selectica, Inc.'s adoption and use of its shareholder rights
plan with a 4.99% trigger designed to protect Selectica's
ability to use its significant net operating losses (NOLs)
(Selectica, Inc. v. Versata Enterprises, Inc.,
C.A. No. 4241-VCN (Del. Ch. Feb 26, 2010))....
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The Canadian Securities Administrators (CSA) recently released the results of their review of the extent and quality of International Financial Reporting Standards (IFRS) transition disclosure provided by certain issuers in their 2009 annual management’s discussion and analysis (MD&A).
Having a diverse board and workplace is beneficial for business. The Risk Oversight and Governance Board (ROGB) of the Canadian Institute of Chartered Accountants (CICA) recently commissioned a study to raise awareness of the importance of diversity and to provide directors with some insights into how to address diversity issues within their organizations.
The Canadian Securities Administrators (CSA) have summarized the results of their annual continuous disclosure (CD) review program of reporting issuers (other than investment funds) for fiscal year 2010 in CSA Staff Notice 51-332 Continuous Disclosure Review Program Activities for the fiscal year ended March 31, 2010.
We are writing to remind you of upcoming deadlines under National Instrument 31–103 Registration Requirements and Exemptions (31–103), which may apply to your firm.
The importance of corporate ethics and compliance programs has been emphasized by U.S. law enforcement authorities since the early 1990s, when the U.S. Sentencing Commission first issued Guidelines offering credit in the form of reduced penalties to companies that work diligently to prevent misconduct.
Whether an executed term sheet detailing the terms of a loan represents a binding agreement to lend or merely an unenforceable "agreement to agree" was the subject of an important ruling handed down by the Appellate Division of the New York State Supreme Court in February 2010.
The recent Eastern Caribbean Court of Appeal decision in Trade and Commerce Bank v. Island Point Properties S.A. has important implications for insolvency law within the British Virgin Islands, as well as for other jurisdictions which share a similar statutory framework to the BVI’s Insolvency Act 2003 (the "Act").
The purpose of this article is to explain the obligations imposed on directors and other persons to disclose certain interests or rights in shares and debentures of companies incorporated in Ireland, whether to the company itself, the Takeover Panel or the Irish Stock Exchange.
In a case of first impression, a federal district court has endorsed the SEC’s interpretation of the clawback provision (Section 304) of the Sarbanes-Oxley Act (SOX) and held that the SEC can seek to clawback incentive-based compensation awarded to the CEO or CFO of a public company that restates its financial statements even when that CEO or CFO is not alleged to be involved in any misconduct associated with the restatement.
This type of business entity is the least regulated and is subject to the least number of formalities in terms of Maltese law. The sole requirement to commence operation is to obtain a trading licence and one may commence operation immediately.
