In the keynote address at the John L. Weinberg Center for Corporate Governance’s 25th Anniversary Gala, Securities and Exchange Commission (“SEC”) Chair Paul Atkins noted that the number of exchange-listed companies has declined in recent years and outlined a three-part agenda aimed at making the US public markets more attractive to companies, including (1) simplifying
Litigation
Tracing Trouble: Ninth Circuit Dismisses Slack Investor Lawsuit
By Mo Son & Brian Hirshberg on
On February 10, 2025, the Ninth Circuit Court of Appeals ruled in favor of Slack Technologies LLC, dismissing an investor class action lawsuit brought under Sections 11 and 12(a)(2) of the Securities Act. This decision follows the 2023 U.S. Supreme Court ruling, which held that the Slack plaintiffs must trace their purchased securities to the…
Did the Seventh Circuit Just Sound the Death Knell for Mootness Fees?
For decades, corporate merger and acquisition deals have been plagued by meritless claims asserting, typically, that the companies and their officers and directors have provided insufficient disclosures. Courts have sought to crack down on these lawsuits, but—as in the game of whack-a-mole—the plaintiffs bringing these lawsuits have adjusted their tactics to avoid the judicially imposed…
Exxon’s Suit Over Shareholder Proposal Rule Should Help the SEC Refocus on Investor Protection
Bloomberg Law has published Larry Cunningham’s opinion piece on this high-visibility lawsuit.
Exxon Mobil Corp. recently attracted significant attention after suing two climate activists who sent a shareholder proposal asking that the company set stringent targets to slash its greenhouse gas emissions and those of its customers.
If implemented, the proposal would effectively place a…