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Jan 8, 2025 | 
mondaq.com | David A. Sakowitz |Michael Blankenship |Ben Smolij |Kamil Turkmani
The Electronic Data Gathering System Analysis, and Retrieval(EDGAR) system will be closed on Thursday, January 9, 2025 inobservance of a federal holiday honoring the thirty-ninth Presidentof the United States, James Earl Carter, Jr., pursuant to President Biden's December 30, 2024 executiveorder. Additionally, the New York Stock Exchange and Nasdaqwill suspend trading on January 9, 2025, as a mark of respect.
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Nov 1, 2024 | 
mondaq.com | David A. Sakowitz |Ben Smolij |Emily Semon |Megan Thomas
On October 22, 2024, the Securities and Exchange Commission (the
SEC) announced charges and million-dollar penalties
against four companies for allegedly making materially misleading
disclosures regarding cybersecurity risk and intrusions relating to
SolarWinds' Orion software hack. SolarWinds
provides an IT performance and monitoring product called Orion,
which issued a routine software update in March 2020.
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Oct 22, 2024 | 
mondaq.com | David A. Sakowitz |Michael Blankenship |Ben Smolij |Kamil Turkmani
On October 7, 2024, the U.S. Securities and Exchange Commission
(SEC) approved a Nasdaq-proposed amendment to Nasdaq Rule
5810(c)(3) (the Amendment), which impacts Nasdaq's minimum bid
price requirement and reverse stock splits on the exchange.
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Sep 29, 2024 | 
mondaq.com | David A. Sakowitz |Ben Smolij |Jacob Tabman |Delilah Todd
On August 26, 2024, the Securities and Exchange Commission (SEC)
issued an order approving amendments to Nasdaq rules
related to phase-in periods (the Phase-In Amendments) and cure
periods (the Cure Period Amendments, and, together with the
Phase-In Amendments, the Amendments). The Amendments are consistent
with the NYSE's previously approved amendments to its corporate
governance requirements and were described as
"reasonable" by the SEC.
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Aug 29, 2024 | 
mondaq.com | David A. Sakowitz |Michael Blankenship |Ben Smolij |Jacob Tabman
Effective July 1, 2024, a final rule (the Final Rule) adopted by the U.S. Securities and Exchange Commission (SEC or Commission) on January 24, 2024 (i) imposes new disclosure obligations in transactions involving special purpose acquisition companies (SPACs), including initial public offerings (IPOs) by SPACs and business combination transactions between SPACs and private company targets (de-SPAC transactions), and (ii) requires the tagging of additional items in SPAC IPO prospectuses and...
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Aug 28, 2024 | 
mondaq.com | Ben Smolij |Justin Hoffman
Take-private transactions result in formerly public companies
being returned to private hands. These transactions raise numerous
state law, federal securities law, and governance issues.
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Jun 10, 2024 | 
law360.com | David A. Sakowitz |Ben Smolij |Andrew Butler
By David Sakowitz, Ben Smolij and Andrew Butler (June 10, 2024, 4:02 PM EDT) -- On April 17, the New York Stock Exchange proposed a rule that would amend Section 802.01D of the NYSE Listed Company Manual.[1]... Law360 is on it, so you are, too. A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence.
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May 11, 2024 | 
mondaq.com | David A. Sakowitz |Ben Smolij |Andrew Butler
On April 17, 2024, the New York Stock Exchange (NYSE) proposed a rule that, if adopted by the U.S. Securities and Exchange Commission (SEC), would amend Section 802.01D of the NYSE Listed Company Manual to provide the NYSE with discretionary authority to commence immediate suspension and delisting proceedings for a listed company that has "changed its primary business focus to a new area of business that is substantially different from the business it was engaged in at the time of its...
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Apr 25, 2024 | 
mondaq.com | David A. Sakowitz |Michael Blankenship |Ben Smolij |Andrew Butler
Under its current rule, the New York Stock Exchange (NYSE)
commences delisting procedures against a listed special purpose
acquisition company (SPAC) if it fails to complete a business
combination within 36 months of its initial listing date,
regardless of whether it has entered into a definitive agreement
for a business combination.
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Feb 24, 2024 | 
mondaq.com | Michael Blankenship |J. Eric Johnson |Ben Smolij |John Niedzwiecki
On January 31, 2024, the New York Stock Exchange (the NYSE or
the Exchange) issued its annual Listed Company Compliance Guidance Memo for
2024 (the Memo). The Memo describes new rules and important
reminders for all NYSE-listed companies, with any rule or policy
distinctions for domestic versus foreign private issuers (FPIs)
identified within.
To access a complete text of the Exchange rules, please see the
NYSE Listed Company Manual (LCM).
