Weekly Roundup: January 15-20, 2021

This roundup contains a collection of the posts published on the Forum during the week of January 15-20, 2021.

CEO Succession Practices in the Russell 3000 and S&P 500

Posted by Matteo Tonello, The Conference Board, Inc., and Jason Schloetzer, Georgetown University, on Friday, January 15, 2021

Tags: Boards of Directors, Diversity, ESG, Executive Compensation, Executive turnover, Management, Manager characteristics, Pay for performance, Succession

The Rise of Growth Equity—Connecting PE and VC

Posted by Mike Turner and Shing Lo, Latham & Watkins LLP, on Friday, January 15, 2021

Tags: Capital formation, Institutional Investors, IPOs, Private equity, Venture capital firms

Financing Year in Review: From Crisis to Comeback

Posted by Benjamin S. Arfa, Gregory E. Pessin, and John R. Sobolewski, Wachtell, Lipton, Rosen & Katz, on Saturday, January 16, 2021

Tags: Capital markets, Covenants, COVID-19, Credit supply, Debt securities, Financial institutions, Financing conditions, Leveraged acquisitions, Mergers & acquisitions

Climate Activism: Status Check and Opportunities for Public Companies

Posted by Sanjay M. Shirodkar, Deborah R. Meshulam and Jeffrey L. Salinger, DLA Piper, on Saturday, January 16, 2021

Tags: Climate change, Corporate Social Responsibility, Environmental disclosure, ESG, Institutional Investors, Shareholder proposals, Stakeholders, Sustainability

A Look at This Year’s Voting Trends Following the US N-PX Disclosures

Posted by Matthew Scott, Proxy Insight, on Sunday, January 17, 2021

Tags: Engagement, ESG, Executive Compensation, Institutional Investors, Pension funds, Say on pay, Shareholder proposals, Shareholder voting

Year-End Accounting and Financial Reporting Considerations

Posted by Eric Knachel and Krista Parsons, Deloitte & Touche LLP, on Sunday, January 17, 2021

Tags: Accounting, Audit committee, Audits, CARES Act, COVID-19, Disclosure, Financial reporting, Forecasting, Human capital, Internal control, Shareholder communications

Investors Hold Boards Accountable—When Equipped With the Right Reports

Posted by Theresa Hamacher, Morningstar Funds Trust, on Monday, January 18, 2021

Tags: Accountability, Board composition, Boards of Directors, Disclosure, Diversity, ESG, Institutional Investors, SEC, SEC rulemaking, Securities regulation, Shareholder proposals, Stakeholders

A New Caremark Era: Causes and Consequences

Posted by Roy Shapira (IDC Herzilya), on Monday, January 18, 2021

Tags: Books and records, Delaware articles, Delaware cases, Delaware law, DGCL, DGCL Section 220, Fiduciary duties, Securities litigation, Shareholder suits

2020 Securities Related Settlements Exceed $5.8 Billion

Posted by Subodh Mishra, Institutional Shareholder Services, Inc., on Monday, January 18, 2021

Tags: Class actions, Securities enforcement, Securities fraud, Securities litigation, Settlements, Shareholder suits, U.S. federal courts

Directors Using Their Employer’s Email Account

Posted by Daniel E. Wolf, Peter Martelli, and Stefan Atkinson, Kirkland & Ellis LLP, on Tuesday, January 19, 2021

Tags: Attorney-client privilege, Boards of Directors, Cybersecurity, Delaware cases, Delaware law, Discovery, Privacy

Footloose with Green Shoes: Can Underwriters Profit from IPO Underpricing?

Posted by Patrick M. Corrigan (Notre Dame Law School), on Tuesday, January 19, 2021

Tags: Capital formation, Capital markets, Equity offerings, IPOs, Market reaction, Regulation M, Securities regulation, Underwriting

How Boards Can Promote a New Leadership Model for Companies

Posted by Seymour Burchman and Blair Jones, Semler Brossy, on Tuesday, January 19, 2021

Tags: Boards of Directors, Corporate purpose, ESG, Executive Compensation, Human capital, Incentives, Management, Manager characteristics, Managerial style, Stakeholders

SEC Resource Extraction Payments Final Rule

Posted by Nicolas Grabar, Nina Bell, and Stephen Janda, Cleary Gottlieb Steen & Hamilton LLP, on Wednesday, January 20, 2021

Tags: Anti-corruption, Disclosure, Dodd-Frank Act, International governance, SEC, SEC enforcement, Securities enforcement, Securities regulation

Why ESG Can No Longer Be a PR Exercise

Posted by Laurie Hays, Heidi DuBois, and Lex Suvanto, Edelman, on Wednesday, January 20, 2021

Tags: Accountability, Climate change, Corporate Social Responsibility, COVID-19, Diversity, ESG, Institutional Investors, Reputation, Sustainability

The Party Structure of Mutual Funds

Posted by Ryan Bubb and Emiliano Catan (New York University), on Wednesday, January 20, 2021

Tags: Agency model, Asset management, Decision making, Index funds, Institutional Investors, Management, Mutual funds, Shareholder voting

FTC Seeks Information Regarding Companies’ Data Collection, Use, and Advertising Practices

Posted by Roberto J. Gonzalez, Jeannie S. Rhee, and Steven C. Herzog, Paul, Weiss, Rifkind, Wharton & Garrison LLP, on Thursday, January 21, 2021

Tags: Accountability, Cybersecurity, ESG, FTC, GDPR, Privacy, Social media, Stakeholders, Tech companies, Transparency

Performing Equity: Why Court of Chancery Transcript Rulings Are Law

Posted by Joel Friedlander, Friedlander & Gorris, on Thursday, January 21, 2021

Tags: Delaware articles, Delaware cases, Delaware law, Legal systems, Securities litigation, Transcript rulings

Racial Diversity and Investment

Posted by Colin Melvin, Arkadiko Partners Ltd., on Thursday, January 21, 2021

Tags: Board composition, Boards of Directors, Diversity, ESG, Human capital, Institutional Investors, International governance, Management, UK