As we discussed in our Alerts dated July 31 and August 9, 2002, Section 402 of the Sarbanes-Oxley Act of 2002 (the “Act”) makes it unlawful for public companies to directly or indirectly extend or maintain credit, or arrange for the extension of credit to their executive officers or directors ...
On August 27, 2002, the Securities and Exchange Commission (the “SEC”) unanimously adopted the first rules implementing the Sarbanes-Oxley Act of 2002 (the “Act”). This Alert addresses the amendments to the rules regarding the acceleration of insider reporting requirements under Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Section 16 Amendments: Accelerated Insider Reporting Obligations In Release No ...
To Our Public Company Clients: As discussed in our Alert dated July 31, 2002, Section 302 of the Sarbanes-Oxley Act of 2002 (the “Act”) directed the Securities and Exchange Commission (the “SEC”) to adopt, by August 29, 2002, rules requiring that CEOs and CFOs of all public companies certify the accuracy of their company’s periodic reports on Forms 10-K and 10-Q (the “Section 302 Certification”) ...
The recent Enron, WorldCom, Adelphia and other corporate crises have led to widespread concern over the adequacy of corporate governance practices of many companies. The focus of much of this scrutiny has centered on the business practices, financial disclosure, audit committee and board independence requirements of public companies ...
Most of the attention about the Sarbanes-Oxley Act of 2002 (Act), signed into law by President Bush on July 30, 2002, has been focused on the reform of public accounting firms and the financial reporting obligations of publicly held companies. However, the Act has other provisions that potentially impact a much broader range of employers ...
To our foreign clients: The Sarbanes-Oxley Act of 2002 (the “Act”), signed into law on July 30, is an attempt to help eliminate accounting fraud and restore confidence in the nation’s financial markets. The Act makes significant changes in laws affecting directors, officers, and corporate reporting obligations. The Act applies to any issuer, including any non-U.S ...
As you are aware, the Sarbanes-Oxley Act of 2002 (the “Act”) was signed into law by President Bush on July 30, 2002, in an attempt to help eliminate accounting fraud and restore confidence in the nation’s financial markets. This Alert focuses specifically on important law changes under the Act affecting the insider reporting requirements under Section 16 of the Securities Exchange Act of 1934, as amended. New Insider Trading Regulations Accelerated Reporting of Transactions by Insiders ...
To Our Public Company Clients and Friends: The Sarbanes-Oxley Act of 2002 (the “Act”) makes some of the most significant changes in decades in laws affecting directors, officers, and corporate reporting obligations. A few of the Act’s provisions are immediately effective, or become effective very soon. The Act leaves many of the critical details and the implementation of the Act to the rule-making authority of the SEC over the next several months ...
To Our Public Company Clients: As discussed in our Alert dated July 31, 2002, Section 906 of the Sarbanes-Oxley Act of 2002 (the “Act”) requires, effective immediately, that CEOs and CFOs of all public companies certify the accuracy of their company’s periodic reports on Forms 10-Q and 10-K ...
To Our Public Company Clients: The Sarbanes-Oxley Act of 2002 (the “Act”) was signed into law by President Bush on July 30 in an attempt to help eliminate accounting fraud and restore confidence in the nation’s financial markets. The Act makes some of the most significant changes in decades in laws affecting directors, officers, and corporate reporting obligations ...
Most of the attention about the Sarbanes-Oxley Act of 2002 (Act), now awaiting President Bush’s signature, has been focused on the reform of public accounting firms and the financial reporting obligations of publicly held companies. However, the Act has other provisions that potentially impact a much broader range of employers. The legislation will be implemented at various times following the President’s signature, but employers should begin preparing for the following changes: 1 ...
To Our Public Company Clients: The Securities and Exchange Commission has ordered the chief executive officer and chief financial officer of public companies with revenues in excess of $1.2 billion during the last fiscal year to certify personally under oath in writing that their company’s SEC filings are materially correct (the “Order”). See http://www.sec.gov/rules/other/4-460.htm ...
Published in For The Defense magazine, July 2002 On May 28, 2000, the United States Supreme Court issued its unanimous decision, written by Justice Anthony Kennedy, that the patent world had been anxiously awaiting. In short, the doctrine of equivalents is alive. The Supreme Court vacated the Federal Circuit’s judgment and remanded the case for further proceedings consistent with its opinion ...
Dallas Bar Association Tort and Insurance Practice Section Today-more than ever-corporate management is under attack. In the wake of the Enron debacle, corporate decisions are more carefully scrutinized, and the conduct of the company’s directors and officers are now constantly under the watchful eyes of investors, creditors, and government regulators ...
To Our Public Company Clients: The SEC has issued for comment a proposed rule which would require a company’s principal executive officer and principal financial officer to certify that, to their knowledge, the information contained in the company’s quarterly and annual reports is true in all important respects and that the reports contain all information about the company of which they are aware that they believe is important to a reasonable investor ...
Dallas Bar Association Franchise and Distribution Law Section A publication and corresponding Powerpoint presentation covering the following: The Franchisor-Franchisee Relationship Shifts Certain Liability Risks from the Franchisor to the Franchisee Insurance Is Typically A Contractually-Negotiated Element of the Franchisor-Franchisee Relationship The Difference between First Party and Third Party Coverage The Basic Anatomy of an Insurance Policy What You Should Know About Comm
State Bar of Texas Insurance Law Section Annual CLE Program Introduction For the last several years, a dark cloud has hung over Texas policyholders seeking coverage for claims made against them for negligence but arising from the intentional conduct of others. Perhaps no other group has endured this storm more than employers who by their “deep pocket” status have routinely been hailed into court for the intentional acts of those they employ ...
Mergers and Acquisitions 2002: Effective Dealmaking in the Post-Boom Economy A Powerpoint presentation covering the following: Current M&A from a Seller's Perspective Current M&A from a Buyer's Perspective For Both Buyer and Seller, Increased Challenges for M&A Transactions MAC Conditions Invoked as a Reason for Termination of the Deal – The Impact of Tyson and Enron What is a MAC? A material adverse change in what? What does “material” mean? Where’s the beef?
Mergers and Acquisitions 2002: Effective Dealmaking in the Post-Boom Economy A Powerpoint presentation covering the following: The Changing Landscape of M&A Current M&A Environment – Positive Factors Current M&A Environment – Negative Factors Recent Changes in the M&A Environment
To Our Public Company Clients: On June 6, 2002, the Corporate Accountability and Listing Standards Committee (the “Committee”) of the New York Stock Exchange released a report (the “Report”) recommending reform of its listing standards. In the Report, the Committee expressed concern over recent failures by companies to exercise diligence, ethics and controls and welcomed the opportunity to raise corporate governance and disclosure standards ...
To Our Public Company Clients: The SEC has adopted new rules that generally require domestic public companies to publicly disclose information regarding the potential share “overhang” that exists as a result of all of their equity compensation plans. The new rules affect Regulation S-K and S-B Items 201 and 601, Items 10 and 14 of Schedules 14A and 14C, as well as Item 12 of Form 10-K and Item 11 of Form 10-KSB ...
Copyright © 2002 The M&A Lawyer. All rights reserved. Used with permission of Glasser LegalWorks, 150 Clove Road, Little Falls, NJ 07424, 800.308.1700 In light of publicity surrounding Enron, Global Crossing, and other former "Wall Street Darlings," M&A lawyers need to spend more time worrying about how to avoid potential ethical dilemmas. If it's been too long since your law school professional responsibility course, here's a review of pertinent ehtical rules and principles ...
Earlier today, the Texas Supreme Court gave a green light to company required arbitration programs. In Re Halliburton Company And Brown & Root Energy Services, No. 00-1206 (Tex. May 30th, 2002). The underlying case arose when both the district court and court of appeals refused to order a case brought under the Texas Commission on Human Rights Act to arbitration ...
This paper focuses on the securities laws applicable to an acquisition by a U.S. company of a Canadian company (“Canadian Company” or “Target”). We will focus primarily on negotiated acquisitions of publicly traded Canadian Companies. Such cross-border business combinations are subject to regulation under U.S. federal and state securities laws, as well as the securities laws of the Canadian provinces ...
To Our Public Company Clients: Partly in response to the recent Enron crisis and related media publicity, the Securities and Exchange Commission has announced its views regarding disclosure that should be considered by companies in the Management’s Discussion and Analysis (“MD&A”) section of Form 10-K, Form 10-Q, and registration statements filed with the SEC ...
