How far will the pendulum swing on executive pay?
Article Abstract:
Shareholders at Time Warner Inc are expressing public anger at excessive executive pay in a Delaware suit against its directors for wasting corporate assets on an overly generous exit package for departing executive N.J. Nicholas Jr. The Delaware Chancery Court is rarely critical of corporate directors, but in view of current public opinion this could change. On another front, the Securities and Exchange Commission announced on Feb 13, 1992 that it would now permit executive pay to be part of proxy proposals.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1992
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Is SEC tool for policing insider trading at risk? The government seeks en banc review of an 8th Circuit decision rejecting contested theory of misappropriation
Article Abstract:
The US Court of Appeals for the 8th Circuit has in United States v. O'Hagan rejected the misappropriation theory, one of the key tools the SEC has used since 1980 fighting insider trading in securities. This adds another federal circuit to the finding that the misappropiation theory is vague because it makes conduct criminal in an arbitrary way. The ruling comes at a time when the SEC is under increased pressure to police fraud after a law in Dec 1995 curbing securities-fraud class actions.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1996
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Has SEC sounded death knell for 'shadow' boards?
Article Abstract:
The SEC in 1992 twice turned down a proposal by the California Public Employees' Retirement System (CalPers) to create a stockholder advisory board for Pennzoil Co. The SEC had particular problems with a lock-in provision in the proposal giving the power to change the bylaw authorizing the shadow board only to stockholders.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1993
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- Abstracts: Pulling the plug on executions; ABA's call for death penalty moratorium sparks debate in Congress. Pocketbook pitch
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- Abstracts: Foundations of sand: the weak premises underlying the current push for proxy rule changes. The corporate governance reform act of 1995
- Abstracts: High court's swing votes spare death row inmate. Capital appeal becomes a court tug of war. The 33-hour habeas appeal