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Disclosure settlement scrutiny
Putting the brakes on disclosure-only settlements
Image courtesy of md-signs.com
In the shareholder class action challenging Zillow's acquisitionof Trulia, the court advised that disclosure settlements are likely to be met with continued disfavor in the future – that is, unless supplemental disclosures address a plainly material misrepresentation or omission, and the subject matter of the proposed release is narrowly circumscribed to encompass nothing more than disclosure claims and fiduciary duty claims concerning the sale process, if the record shows that such claims have been investigated sufficiently. Read more >>
Bob's Upticks
Timely news & comments on developments in the world of securities and corporate governance.
- News from the front lines
The Council of Institutional Investors has adopted a new policy limiting newly pubic companies' ability to include "shareholder-unfriendly" provisions in their organizational documents. Read more >>
- Bespoke financial data?
The SEC chair's recent remarks suggest that additional regulation may be used to curb companies' increasing use of customized financial disclosures. Read more >>
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