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SEC Provides Welcome Relief from Reporting Requirements for Subsidiary Guarantors

On March 2, the Securities Exchange Commission (SEC) adopted amendments that, among other things, significantly reduce the subsidiary guarantor financial statement requirements in periodic reports for companies that have...more

High-Level Considerations for First-Quarter 2020 Earnings Releases and Guidance in Uncertain Times | Bass Berry & Sims

As companies continue to evaluate the impact of the novel coronavirus (COVID-19) pandemic on their business, public companies will be facing challenging disclosure considerations in connection with their upcoming...more

More States Temporarily Ease Restrictions on Virtual Annual Meetings

In a previous blog post, we described the steps some states have taken or are currently taking to permit or facilitate virtual shareholder meetings (i.e., “virtual-only” or “hybrid” meetings) in light of the numerous...more

States Remove Barriers to Virtual Annual Meetings in Light of COVID-19 Pandemic

In a previous blog post, we discussed the availability of virtual shareholder meetings (i.e., “virtual-only” and “hybrid” meetings) as a potential alternative to the traditional in-person meeting during the 2020 proxy season...more

Senior Management and Boards in the Time of Social Distancing

The ongoing fallout from the pandemic associated with the novel coronavirus (COVID-19) continues to challenge companies, boards and management teams across all aspects of their business. In trying times like these, senior...more

SEC Staff Provides Guidance for Conducting Virtual Meetings in Light of COVID-19 Pandemic

In a previous blog post, we discussed the availability of virtual shareholder meetings (i.e., “virtual-only” and “hybrid” meetings) as a potential alternative to the traditional in-person meeting during the 2020 proxy season...more

COVID-19 Pandemic Causes Public Companies to Reevaluate Virtual Meetings

Across the globe, the coronavirus pandemic (COVID-19) is causing governments, companies, associations and colleges and universities to take unprecedented steps to address the spread and transmission of COVID-19. These steps...more

Advance Notice Bylaw Provisions Upheld by Delaware Supreme Court

In a previous blog post, we discussed the Delaware Chancery Court’s decision in Saba Capital Master Fund, Ltd. v. Blackrock Credit Allocation Income Trust and its relevance to the interpretation of advance notice bylaw...more

Navigating the Maze: Which SEC Rules Apply to Your Non-GAAP Financial Measure Disclosures

The recent SEC enforcement action against ADT Inc. for its failure to comply with the SEC’s equal prominence requirements applicable to non-GAAP financial measures, as outlined in our recent blog post, is a clear reminder...more

Revisiting Advance Notice Provisions and Proxy Access

Advance Notice Bylaw Provisions - A recent Delaware case, Saba Capital Master Fund, Ltd. v. Blackrock Credit Allocation Income Trust, highlights the importance of advance notice bylaws and the careful application of the...more

SEC Proposes Rule Amendments to Revise Financial Statement Requirements for Acquisitions and Dispositions

On May 3, 2019, the SEC proposed amendments to its rules and forms which would revise the disclosure requirements for financial statements relating to acquisitions and dispositions of businesses. We believe that most aspects...more

Does Your Acquisition Agreement Trigger a Form 8-K?

When a public company is contemplating an acquisition, lawyers should consider early in the acquisition process whether the execution of the acquisition agreement and/or the completion of the acquisition may trigger a filing...more

12 Things You Need to Know About Drafting Management & Discussion Analysis (MD&A)

While developments with respect to the Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) section in SEC disclosure documents has garnered less attention in the legal press in recent...more

Complexities of Issuing Public Company Stock in Acquisitions of Private Companies

As equity valuations of public companies remain high in comparison to recent historical norms, the use of public company stock as an acquisition currency by SEC registrants in acquisitions of private companies will continue,...more

Form S-3: To File or Not to File, That is the Question . . .

Public companies that engage in capital raising activities from time to time must consider whether it is advisable to have an effective shelf registration statement on Form S-3 on file in advance of raising capital, or...more

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