Council of Institutional Investors

Section: June 8, 2023 | Vol. 28, Issue 22
Court Decision Could Prompt Flood of Direct Listings
In a decision that could upend shareholder protections when U.S. companies go public, the Supreme Court June 1 held that plaintiffs suing under Section 11 of the Securities Act of 1933 must trace their shares to a registration statement that they allege was defective even when they acquired the shares in a direct listing.
Bill Would Require FDIC to Recoup Three Years of Pay from Executives at Failed Banks
A bipartisan group of Senators introduced legislation June 1 that would require the Federal Deposit Insurance Corporation (FDIC) to recoup up to three years of compensation from top bank executives, board members, controlling shareholders and others in the event of a bank collapse.
Updates from the SEC
Gensler Pledges to Allow No-Action Relief for SIFMA to Expire, Uyeda Renominated to Serve at SEC Until 2028
Round Up of Results from Recent Annual Meetings
Highlights from the Netflix, McDonald's and Meta annual meetings.
New Developments on the Anti-ESG Front
Retiree Sues Pension Plan Over ESG Investing, Shareholder Proposal Asks that Directors Stop Serving on Other Boards and Acting Labor Secretary Probed about DOL Rule on ESG Investing
Investors Turn Up the Heat at Japanese Companies
This proxy season is expected to be a busy one for Japanese companies, which face unprecedented pressure from investors in the form of shareholder proposals and vote-no campaigns against corporate directors.