In this February post, I wrote about a bill, SB 261, that would would require businesses to prepare and submit climate-related financial risk reports. The bill would apply to any corporation or other business entity formed under the laws of...
Recent Posts
As has been widely reported, the California Department of Financial Protection & Innovation announced that it has taken possession of another California chartered bank - First Republic Bank. This is the second California state bank failure this...
California Assemblymember Brian Maienschein has introduced a bill, AB 853, that seemingly would impose a notification burden on just about anyone anywhere:
"You can check out any time you likeBut you can never leave"
As I discussed in this post from earlier this month, SB 54 would have required institutional investors, securities and real estate brokers, and others to report diversity status of startup founding teams. The bill has since been substantially...
In Hyde Park Venture Partners Fund III, L.P. v. FairXchange, LLC, 2023 WL 2417273 (Del. Ch. Mar. 9, 2023), Vice Chancellor J. Travis Laster ruled that two investment funds were within the "circle of confidentiality" that encompassed the corporation...
Earlier this month, TripAdvisor, Inc. filed preliminary proxy materials that include a proposal to redomesticate the company from Delaware to Nevada. Within days a lawsuit was filed in the Delaware Court of Chancery challenging the move and a...
The California General Corporation Law entitles directors in performing their duties to rely upon information, opinions, reports or statements of others. Cal. Corp. Code § 309(b). Does the statute protect a director who relies upon a statement or...
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