Six Flags to Reimburse Red Zone Solicitation Expenses
Six Flags’ preliminary proxy statement filed with the SEC earlier this week reveals that its board has agreed to reimburse Red Zone LLC, the entity controlled by Washington Redskins owner Daniel Snyder, for expenses incurred in its successful consent solicitation last fall. Red Zone launched the solicitation to address Six Flags’ continued poor performance and ... Six Flags to Reimburse Red Zone Solicitation Expenses
SEC Advisory Committee on Smaller Public Companies Meets Tomorrow
The SEC Advisory Committee on Smaller Public Companies will hold a telephone conference meeting tomorrow at 10:00 A.M., E.D.T. “to further consider the draft of the Advisory Committee’s final reportâ€? (the report that recommends, among other things, exempting small companies from SOX 404 compliance). The meeting will be webcast through the SEC’s website. Click here ... SEC Advisory Committee on Smaller Public Companies Meets Tomorrow
New Blog Syndication Service Launched
BlogBurst, a new blog syndication service, was launched today by Pluck Corporation, a startup located in Austin, TX. BlogBurst syndicates articles from hundreds of blogs for use by traditional media outlets who pay a fee to use the service. Per the BlogBurst website: BlogBurst is a syndication service that places your blog on top-tier online ... New Blog Syndication Service Launched
Bobby Bartlett Joins Us as Guest Blogger
Bobby Bartlett will be guest blogging here for the next couple of weeks. Bobby is an Assistant Professor of Law at University of Georgia School of Law where he teaches Contracts and Payment Systems. He writes about private equity issues and recently completed a guest stint on the Glom.
Burger King’s CEO Resigns
Burger King announced today that its CEO, Greg Brenneman, has resigned (AP article here). He will be replaced by BK’s CFO. According to the article: When asked on a conference call about the changes at the top, Chidsey said: “It portends no bad news. Everything is fine with the company.” He and Brenneman declined to ... Burger King’s CEO Resigns
More on the Google Offering
Following up on this post, the prospectus supplement for Google’s offering of 5.3 million shares of its Class A common stock is now available on the SEC’s website (here). The deal was priced on March 31 at $389.00 per share for a total of $2.066 billion. Interestingly, Goldman was the sole underwriter and received a ... More on the Google Offering
Financial Aid Impact of Coverdell Education Savings Accounts
With April 15 looming, I’ve spent some time this morning figuring out whether to make contributions to my sons’ Coverdell Education Savings Accounts or their 529 plans (I’m no longer a big shot attorney, so I don’t have the funds to do both). The issue has come up because on a recent NPR show someone ... Financial Aid Impact of Coverdell Education Savings Accounts
We finally have a PageRank!
Although I promptly alerted Google when we launched this blog about three months ago, our Google PageRank has always been 0 out of 10. Not anymore. We have suddenly emerged with a PageRank of 7 out of 10. PageRank is Google’s “measure of importance� of a page, and is determined as follows: PageRank relies on ... We finally have a PageRank!
Unisuper Settles
The Corporate Governance Blog reports that Unisuper Ltd. v. News Corporation has settled (see here). The opinion in the case issued by Chancellor Chandler last December received a lot of attention from corporate law bloggers (see, e.g., here, here, here and here). Update:Â Gordon Smith has more on the settlement here.
Is the phrase "material omission" materially misleading?
Judges and commentators (myself included) routinely assert that an element of a claim under Sections 11, 12(a)(2) and 17(a) of the ’33 Act and Rule 10b-5 of the ’34 Act is a misstatement or omission of a material fact. However, the omission part of the element, with slight differences in phrasing, is actually an omission ... Is the phrase "material omission" materially misleading?
Cox Says No to Sarbanes-Oxley 404 Exemption
From today’s Chicago Tribune (click here): Securities and Exchange Commission Chairman Christopher Cox said Monday that small companies won’t get an exemption from Sarbanes-Oxley rules requiring independent auditors to certify compliance with federal laws.
Group Photo of GE’s Board
The NYT points out today (here) that the group photo of GE’s board appearing in its 2005 annual report is a cut and paste job. “[S]ome photographs had been taken individually and others in small groups. They were then assembled . . . for a panoramic shot of the powerhouse board . . . .” ... Group Photo of GE’s Board
