June 13, 2012

FINRA’s Corporate Financing Filing Fees Triple!

Last week, FINRA submitted a rule change that significantly increases the Corporate Financing Department filing fee – with an implementation date of July 2nd! The new filing fee will be $500, plus .015% (up from .01%) of the proposed maximum aggregate offering price of all securities included on the offering document, up to a maximum of $225,500 (up from $75,500). However, any shelf offering by a WKSI registered on an automatically effective S-3 or F-3 registration statement will be subject to the full $225,500 fee, regardless of the size of the offering. The FINRA rule change was filed as one that is immediately effective upon filing with the SEC. Thanks to Suzanne Rothwell for this news!

In other news, see this blog from “The Mentor Blog” for other proposed FINRA Rule 5110 changes…

Shareholder Proposals: KBR Wins Over Chevedden in Fifth Circuit Appeal

A few months ago, I blogged that John Chevedden appealed his loss in a lawsuit over the eligibility to submit shareholder proposals. A few days ago, the appeal was decided when the Fifth Circuit’s decision affirmed the District Court’s judgment granting summary judgment in favor of KBR and also affirming the District Court’s denials of Chevedden’s various motions.

Webcast: “How to Cope with the M&A Litigation Explosion”

Tune in tomorrow for the webcast – “How to Cope with the M&A Litigation Explosion” – to hear Wilson Sonsini’s Doug Clark, Wachtell Lipton’s David Katz and NERA’s Marcia Kramer Mayer to not only learn of the causes of the M&A litigation maelstrom, but how you can best cope with its consequences – to changes in deal structures to developments in how deals are negotiated. Please print these course materials in advance.

Deal Cube Tournament: Round One; 15th Match

As noted in these rules (and keep sending more pics for the next tourney), please vote for two of the following four cubes below:

Budweiser Tap
Blue Phone
“Growing with Asia”

Online Surveys & Market Research

– Broc Romanek