Anthony, Linder & Cacomanolis, PLLC’s Post

For purposes of the Nasdaq clawback rule, the date that a company is required to prepare an accounting restatement is the earlier to occur of: (i) the date the company’s board of directors, a committee of the board, or company officers concludes or reasonably should have concluded that the company is required to prepare an accounting restatement; or (ii) the date a court, regulator, or other authorized body directs the company to prepare an accounting restatement. #SecuritiesLawBlog #NASDAQ #ALCLAW

As a condition to listing on Nasdaq, all companies must: “Adopt and comply with a written policy providing that the company will recover, reasonably promptly, the amount of erroneously awarded incentive-based compensation in the event that the company is required to prepare an accounting restatement due to the material noncompliance of the company with any financial reporting requirement under the securities laws, including any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period.” #SecuritiesLawBlog #NASDAQ #ALCLAW

As a condition to listing on Nasdaq, all companies must: “Adopt and comply with a written policy providing that the company will recover, reasonably promptly, the amount of erroneously awarded incentive-based compensation in the event that the company is required to prepare an accounting restatement due to the material noncompliance of the company with any financial reporting requirement under the securities laws, including any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period.” #SecuritiesLawBlog #NASDAQ #ALCLAW

SPAC Feed: In the October edition of our Public Company Watch, we cover key issues impacting public companies, including a recent SEC… - https://lnkd.in/eTi23qGF #SPACs #SPACNews #SPAC #IPO #markets #news #capitalmarkets #trends #goingpublic #finance #business

The NYSE’s 2024 Listed Company Compliance Guidance Memo reminds listed companies of important annual requirements and new rules that have come into effect, including clawback policies, passive shareholders, and an abbreviated settlement cycle. Learn more: https://bit.ly/3uzkHLI Michael J. Blankenship | Eric Johnson | Ben Smolij | John Niedzwiecki | Mollie Goldfarb | #publiccompanies #NYSE

Nasdaq listing Rule 5608 sets forth the listing requirements related to the recovery of erroneously awarded compensation. The language conforms closely to SEC Rule 10D-1, including explanations on materiality and “little r” restatements that are material based on facts and circumstances and existing judicial and administrative interpretations. #SecuritiesLawBlog #NASDAQ #ALCLAW

Learn more in the latest Capital Markets & Securities Law Watch blog post: https://bit.ly/3uzkHLI

𝗬𝗘𝗛𝗨𝗔𝗟𝗔𝗦𝗛𝗘𝗧 𝗧𝗔𝗠𝗜𝗥𝗨: #CorporateLaw The dispute between shareholders' preemption rights and secured creditors' priorities can be a tricky battleground. When a shareholder defaults and a creditor opts to sell the pledged shares, the corporate structure's intrinsic nature comes to the forefront. In private limited companies (PLCs), existing shareholders often have preemption rights requiring consent for any external transfer. In share companies, creditors can bypass shareholders' approval. Read more https://ow.ly/CkLq50SgRoB

Companies Rethink Insider Trading Policies After Novel SEC Win   Some companies eyeing narrow bans to limit legal exposure Corporate policies can affect courts’ take on ‘shadow trading’   Most S&P 500 companies write rules to stop employees from using confidential information to trade other businesses’ stock, but some are now thinking about scaling back their bans to avoid exposing their executives to new legal troubles.   That’s perhaps one unintended consequence for the Securities and Exchange Commission following its win in the first-ever trial over “shadow trading,” some lawyers say.   A key part of the SEC’s case against a former biopharma executive, Matthew Panuwat, was that his company’s policies prohibited him from buying any public company’s stock based on his insider knowledge about his own employer’s pending deal.   https://lnkd.in/eHSZmrYi                                                                  #doinsurance #ipo Assurtrak Insurance Brokers, LLC

ICYMI: I sat down with Sasha Orloff host of Turpentine Finance to chat more about creating the Long Term Stock Exchange (LTSE). We dive into: - How the single most critical part of a legal memo to the SEC is the letterhead - Debunking corporate governance myths - How companies go through a cycle of CFO acquisition and discarding - Protecting your company's vision in the public markets and more. Listen here! https://lnkd.in/gEt2MAHm