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NYSE-Listed Corporations: Your Time Is Now
Much of the waiting for final rules promulgated by the Sarbanes-Oxley Act of 2002 (the Act), including new corporate governance standards approved by the SEC on Nov. 4, 2003 for New York Stock Exchange (NYSE)-listed companies, is over. It is now time for NYSE-listed corporations to set into motion the implementation and effective management of these myriad new rules. Extensive new disclosure is required to be included in proxy statements and Forms 10-K filed on or after Jan. 15, 2004, and consequently, processes should already have been put in place to allow adequate time for companies to review the effectiveness of newly adopted procedures.
After reading the new rules and the associated commentary, it is clear that the Exchange does not take a “one-size-fits-all” approach. A great deal of interpretation and flexibility is left to each board, or in some cases, the board committees, to make determinations according their company's size, specific needs, businesses or circumstances. The most important tool to ward off an unforeseen disclosure oversight or omission is communication among the board, its committees and management. Some highlights and ideas for the implementation of the new rules follow.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.