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Delaware Supreme Court Overrules Gentile Carve-out, Holding An Improper Transfer Of Economic Value And Voting Power To A Controlling Stockholder Through An Equity Overpayment Is A Derivative Claim

Shearman & Sterling

As we discussed in our prior post, plaintiffs alleged that a private placement of stock to the Company's controlling stockholder at a price that undervalued the shares diluted the financial and voting interest of the minority stockholders. 2004), and expressly overruled Gentile and its carve-out from Tooley. 2d 1031 (Del.

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Virtualware Acquires Sweden's Simumatik to Strengthen Position in the Real-Time 3D Enterprise Software Industry

Global Newswire by Notified: M&A

. — Spanish-listed company Virtualware (EPA:MLVIR), a provider of cutting-edge extended reality (XR) technologies and real-time 3D enterprise solutions, has agreed to acquire Swedish corporation Simumatik AB for 1.37 By joining forces, we’re creating a unique value proposition that blends the muscle of both our corporations.

Shares 56
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With the Sunset of Its Dual Class Arriving, Veeva Systems (VEEV) Decides to Embrace Stakeholder Governance and Become a Public Benefit Corporation

Transactional Delights

Increased digital interactions in the covid economy have been good for VEEV, and shareholders have seen the share price jump from $120.93 With the loss of its dual class, VEEV has decided to act proactively by calling a special meeting proposal to adopt an amendment to its Charter to become a Public Benefit Corporation (PBC) [4].

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Delaware Supreme Court Overrules Gentile Carve-out, Holding An Improper Transfer Of Economic Value And Voting Power To A Controlling Stockholder Through An Equity Overpayment Is A Derivative Claim

Shearman & Sterling

As we discussed in our prior post, plaintiffs alleged that a private placement of stock to the Company's controlling stockholder at a price that undervalued the shares diluted the financial and voting interest of the minority stockholders. 2004), and expressly overruled Gentile and its carve-out from Tooley. 2d 1031 (Del.

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Citi reports double-digit Q2 decline in investment banking and markets revenue

The TRADE

Additionally, due to lower revenues in both investment banking and corporate lending, banking revenues of $1.2 The bank also posted a decrease in corporate lending revenues which it confirmed was driven by lower volumes. “We billion decreased 22% from this time last year.

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The Insider’s Guide to Insider Trading

Peak Frameworks

Legal insider trading occurs when corporate insiders—officers, directors, or employees—buy or sell stocks in their own companies but report their transactions to the SEC. For example, in 2011, Apple CEO Tim Cook acquired 37,500 shares of Apple stock in a perfectly legal manner, fully reporting the transaction to the SEC.

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Transfer Traps: Considerations for Dual-Class Companies Contemplating M&A Transactions

Cooley M&A

The rise of founder-led, venture capital-backed companies in recent years has coincided with a surge of companies implementing dual-class share structures in connection with their initial public offerings. In a small number of cases, a class of common stock is offered to the public that has no voting rights at all.

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