On January 4, 2024, the Court of Chancery of Delaware struck down the largest potential compensation plan in the history of public market – Elon Musk’s $55.8 billion compensation plan from Tesla. Can Musk override the Court’s decision with a
On November 5, 2024, Donald Trump secured a decisive victory in the U.S. presidential election. In response, markets surged, while activists watched closely as companies and investors alike prepared for uncertainty and braced against the threat of “America First” tariffs
Recently, there have been a number of high-profile proxy fights involving trusts, particularly real estate investment trusts (REITs). In contrast to corporations, a trust is predominately governed by its declaration of trust (DOT). While a shareholder
After nearly two years since the recreational cannabis industry has been in operation, we are seeing a rise in securities class actions and regulatory activity relating to cannabis companies. Since legalization, the growth of the sector has been fast and
As we previously discussed, the use of share buybacks has accelerated in recent years, both in Canada and the United States. This has sparked anxious debate over the extent to which buybacks can form part of an effective long-term
Recently, there has been a trend among both Canadian and United States companies to buy back their shares in order to boost stock prices. In the past – most notably during the “Buyback Bonanza” of 2007 – this strategy has
In October 2017, the TSX published updates under section 473 of the TSX Company Manual placing additional disclosure obligation requirements on non-exempted TSX-listed issuers.
These updates became effective on April 1, 2018.
The TSX’s updates mandate that each TSX-listed issuer
The majority of shareholders in Canada hold their shares through a broker or other intermediary which in turn holds their shares with the Canadian Depository for Securities Limited (CDS). Most voting at shareholder meetings therefore occurs within a layered, complex
This blog post originally appeared in Norton Rose Fulbright’s M&A blog.
Under Delaware law and most Canadian corporate statutes, a shareholder who votes against a fundamental transaction—such as a going-private transaction or a sale of all or substantially all
According to the recently published Global Institutional Investors Insight survey, shareholder activism is on the rise. The survey, which canvassed over 500 institutional investor and sell-side research analysts from across North American, European and Asian markets, reports that more