RKS thanks Daniel Kalansky, Partner at Loria e Kalansky Advogados and Professor in the LLM program at Insper University for this guest post. Professor Kalansky holds a PHD in Corporate Law from the University of São Paulo – USP and is the Former president of the Brazilian Institute of Business Law – IBRADEMP. To
Stewart Investors, an asset manager focused on emerging markets equity, reaffirmed its policy of voting in favor of appraisal rights in its most recent proxy guidelines. Keeping it simple, Stewart wrote it would “Vote for proposals to restore, or provide shareholders with, rights of appraisal.”
This is consistent with its prior proxy guidance, which we
Boston Partners, a specialized equity investor with nearly $75 billion under management, says to vote for appraisal rights as part of its proxy guidelines. This is no surprise as appraisal rights are critical shareholder rights, especially in instances of unfair mergers or management’s actions that undervalue the company.
Boston Partners’ proxy guidelines join
The State of Michigan Retirement System Proxy Voting Guidelines are straightforwardly “for” on appraisal, writing:
“Appraisal rights are intended to help protect shareholders from unfair pricing in corporate transactions. The SMRS will vote for proposals that (i) provide shareholders with appraisal rights, (ii) restore rights of appraisal, or (iii) which otherwise support rights
Major proxy advisory firm Institutional Shareholder Services (ISS) issues guidance every year for investors laying out ISS’ recommendations for voting on various shareholder issues. The 2022 US voting guidelines recommend voting in favor of appraisal rights when such rights are on the ballot. This is in line with the 2021 guidelines (which we covered).
Rolnick Kramer Sadighi is sponsoring a panel alongside the New York City Bar Association’s Foreign & Comparative Law Committee on appraisal rights across jurisdictions, including practical differences between jurisdictions in the use and effectiveness of the appraisal remedy. Appraisal experts in Cayman Rocco Cecere, South African Adam Pike of Pike | Law and European
Los Angeles Venture Association (LAVA) recently hosted a webinar discussing the recent uptick of merger and acquisition activity over the last six months, and the trends that will impact the future of the market.
Two reasons for the uptick in cannabis industry investments are confidence in the economy and elections which helped legalize cannabis. Momentum
Attorneys for the investors in Tesla Inc. will argue that they have the right to use testimony from Elon Musk’s recent deposition in another case involving Musk’s control over Tesla and board conflicts in their action slated to go to trial later this month. The investors urge that any contradictory testimony could be used to
The Governor of Delaware has nominated Vice Chancellor Kathaleen McCormick to the post of Chancellor (the ‘chief judge’ of the Delaware Chancery Court). The nomination is to replace retiring Chancellor Andre Bouchard.
Steve Hecht of Rolnick Kramer Sadighi LLP said of the nomination “VC McCormick has been a welcome addition to the bench
We’ve covered South African appraisal rights before – it remains a jurisdiction with active valuation and appraisal disputes making the news. One recent news article recaps a situation involving South African appraisal in the case of Sabvest Capital/Sabcap.
Per the article, and this filing, “Sabcap” acquired all the shares of “Sabvest” in exchange for