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Form 8-K POWERVERDE, INC For: Apr 16

Form 8-K POWERVERDE, INC For: Apr 16
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.

Sorrento Therapeutics, Inc S-3 Apr 9, 2021 5:05 PM

Sorrento Therapeutics, Inc S-3 Apr 9, 2021 5:05 PM
seekingalpha.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from seekingalpha.com Daily Mail and Mail on Sunday newspapers.

Insolvent Corporations May Transfer All Assets to Creditors

Thursday, April 1, 2021 In  Stream TV Networks, Inc. v. SeeCubic, Inc., C.A. No. 2020-0310-JTL (Del. Ch. Dec. 8, 2020), the Court of Chancery of the State of Delaware (the “Court”) ruled that all of the assets of an insolvent 3D television technology company, Stream TV Networks Inc. (“Stream”), could be transferred to its secured creditors even though Stream did not seek  stockholder approval of the sale under Section 271 of the General Corporation Law of the State of Delaware (the “DGCL”) or its certificate of incorporation. Accordingly, the Court enforced an agreement between Stream and its secured creditors pursuant to which Stream agreed to transfer all of its assets to an affiliate of its two secured creditors.

Del Chancery: CEO s Fiduciary Duty of Statements to Stockholders

Advertisement CEO’s Role in Preparation of a Proxy Statement for a Merger Exposes CEO to Duty of Care Claims Friday, March 5, 2021 In In Re Baker Hughes Inc. Merger Litig., C.A. No. 2019-0638-AGB (Del. Ch. Oct. 27, 2020), the Delaware Court of Chancery declined to dismiss claims that the CEO of Baker Hughes Incorporated (“ Baker Hughes”) breached his fiduciary duty of care by failing to include unaudited financial statements of the oil and gas segment of the General Electric Company (“ GE O&G”) in a proxy statement soliciting the stockholder vote on Baker Hughes merger with GE O&G.  As a result, the Court found that (1) the stockholder vote was uninformed, and (2) enhanced scrutiny under 

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