The U.S. Securities and Exchange Commission (SEC) recently released its 2021 Examination Priorities. The SEC indicates it will focus on senior investors and those saving for retirement.
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The Delaware Chancery Court has just issued an opinion holding
the board of The Williams Companies in breach of its fiduciary
duties and invalidating the Stockholder Rights Plan ( poison
pill ) adopted by the board at the height of the economic
disruption and stock market volatility caused by the Covid-19
pandemic. The court did not change the law in Delaware on poison
pills, but concluded that the board s reasons for adopting the
defensive measure and the unique features of this particular device
(e.g., a 5% threshold and a broad concept of when activist