January 14, 2011

SCOTUS: Oral Arguments in Matrixx Materiality Case

On Monday, the US Supreme Court heard oral arguments in Matrixx Initiatives v. Siracusano (No. 09-1156) – here is the transcript and here are the briefs – the important securities fraud case dealing with whether a company was required to disclose reports of adverse events following the use of its cold remedy product even though the reports are not alleged by the plaintiffs to have been statistically significant. Even though the issue presented is somewhat limited, it is rare that SCOTUS considers a “materiality” case – one of the hardest judgments for corporate lawyers and their business clients to make. The Court isn’t likely to issue an opinion until the Spring.

This BBC video – entitled “My BlackBerry is Not Working” – is hilarious…

Webcast: The Proxy Solicitors Speak on Say-on-Pay

Tune in on Tuesday for the webcast – “The Proxy Solicitors Speak on Say-on-Pay” – to hear Art Crozier of Innisfree M&A, David Drake of Georgeson, Ed Hauder of ExeQuity and Reid Pearson of Alliance Advisors discuss solicitation and engagement strategies to help educate shareholders about a company’s compensation programs in light of mandatory say-on-pay.

As all memberships expired at the end of the year, please renew if you haven’t yet to catch this program. If not yet a member, try a no-risk trial now.

Poll: When Will the SEC Adopt Say-on-Pay Rules?

During yesterday’s webcast (audio archive available), the panel had a spirited debate – pure conjecture, mind you – about when the SEC will adopt final say-on-pay rules. You may recall that Section 951 of Dodd-Frank applies mandatory say-on-pay to all shareholder meetings held on or after January 21st – regardless if the SEC adopts final rules.

Please participate in this anonymous poll regarding your guess as to when the SEC will act on final rules:

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– Broc Romanek