Press release content from PR Newswire. The AP news staff was not involved in its creation.
Starboard Delivers Open Letter to Box Stockholders
May 17, 2021 GMT
NEW YORK, May 17, 2021 /PRNewswire/ Starboard Value LP (together with its affiliates, “Starboard”), one of the largest stockholders of Box, Inc. (“Box” or the “Company”) (NYSE: BOX), with an ownership interest of approximately 8% of the Company’s outstanding shares, today delivered an open letter to Box stockholders reiterating its significant concerns with the Company’s $500 million convertible preferred equity financing and the Board’s continued refusal to engage constructively with Starboard. In the letter, Starboard also disclosed its intention to submit a Books and Records request, pursuant to Section 220 of the Delaware General Corporation Law, to inspect books and records relating to the Company’s review of strategic options, including the financing and the proposed upcoming “Dutch auction”
Starboard Value LP: Starboard Delivers Open Letter to Box Stockholders
NEW YORK, May 17, 2021 /PRNewswire/ Starboard Value LP (together with its affiliates, Starboard ), one of the largest stockholders of Box, Inc. ( Box or the Company ) (NYSE: BOX), with an ownership interest of approximately 8% of the Company s outstanding shares, today delivered an open letter to Box stockholders reiterating its significant concerns with the Company s $500 million convertible preferred equity financing and the Board s continued refusal to engage constructively with Starboard. In the letter, Starboard also disclosed its intention to submit a Books and Records request, pursuant to Section 220 of the Delaware General Corporation Law, to inspect books and records relating to the Company s review of strategic options, including the financing and the proposed upcoming Dutch auction self-tender.
Yesterday, I listed to a talk by Vice Chancellor J. Travis Laster of the Delaware Court of Chancery entitled "Purpose, Power, and Fiduciary Duty: Dimensions of Delaware's Corporate Law.
May A Board Give All The Corporate Assets To Charity? Thursday, May 13, 2021
Yesterday, I listed to a talk by Vice Chancellor J. Travis Laster of the Delaware Court of Chancery entitled Purpose, Power, and Fiduciary Duty: Dimensions of Delaware s Corporate Law Regime . The webinar was presented by the University of Delaware s John L. Weinberg Center for Corporate Governance. Vice Chancellor Laster took a very deferential view of a board s decisions to donate corporate assets - applying a standard of rationality, not reasonableness. Notably, he did not reference the statutory authority for corporate giving - Section 122(9) of the Delaware General Corporation Law provides that a Delaware corporation has the power to [m]ake donations for the public welfare or for charitable, scientific or educational purposes, and in time of war or other national emergency in aid thereof . He also did not apply the doctrine of corporate waste to his analysis, although he did
Form 10-K/A ADOMANI, INC For: Dec 31 streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.