On November 16, 2023, proxy advisory firm Glass Lewis released its 2024 Proxy Voting Policy Guidelines. The new guidelines apply to shareholder meetings occurring after January 1, 2024. Unsurprisingly, many of Glass Lewis’s...more
Today, the Supreme Court of the United States issued five decisions: National Pork Producers Council v. Ross, No. 21-468: This case involved a constitutional challenge to California’s “animal cruelty law” known as...more
On November 17, Director of the Budget Robert Mujica announced that he will be leaving his position as Director of the Division of the Budget to assume the role of Executive Director of Puerto Rico’s Financial Oversight and...more
On May 20, 2021, President Biden issued Executive Order 14030, Climate-Related Financial Risk, which directed the implementation of policies that would “advance consistent, clear, intelligible, comparable, and accurate...more
On September 1, 2022, the Financial Oversight and Management Board for Puerto Rico (“Oversight Board”) – an entity created by Congress to supervise the finances of the government of Puerto Rico and restructure its public debt...more
On May 20, 2021, President Biden signed an Executive Order to address predicted financial instability in the federal government as a result of climate change. This Executive Order showcases a dramatic change in how the Biden...more
Institutional Shareholder Services (ISS) announced benchmark voting policy changes in the United States, increasing expectations for board racial and ethnic diversity, adding director accountability for environmental and...more
Appointment of PROMESA Financial Oversight Board Was Constitutional - In Financial Oversight and Management Board for Puerto Rico v. Aurelius Investment, LLC, No. 18-1334, 590 U.S. ___ (June 1, 2020), the Supreme Court...more
Since PROMESA was enacted in 2016 to pave the way for a comprehensive restructuring of Puerto Rico’s mounting municipal debt obligations, the U.S. District Court for the District of Puerto Rico (District Court) has become a...more