Public Company Representation
In an effort to encourage more companies to go and stay public, the SEC staff has been drafting a proposal that would exempt more public companies from audits of financial controls. However, moving forward with this agenda will not be easy.
, an associate in Stradling’s corporate practice group, authored a client alert regarding the SEC’s new rule to allow any issuer to “test the waters” prior to an initial public offering.
Ryan Wilkins, chair of Stradling’s Corporate and Securities
department and leader of the firm’s Public Company
practice group, was quoted in an article published by Law360
on February 15th, “SEC Nudges Cos. Toward More Robust Diversity Disclosures.” The SEC recently updated disclosure guidelines that call upon companies to explain how certain “self-identified diversity characteristics” of directors influence nomination decisions.
Newport Beach-based Jason de Bretteville
, chair of Stradling's White Collar Criminal Defense practice group and co-chair of the firm's Enforcement Defense & Investigations practice group, was quoted in an article published in Business Insurance
, “Firms Considering IPOs Advised to Prepare for Lawsuits.” The article discusses different measures firms can take to avoid becoming the target of increased IPO litigation being filed in more plaintiff-friendly state courts, such as developing a relationship early on with their directors’ and officers’ liability insurance.
San Diego-based Amit Singh
, a shareholder in the firm’s M&A and Emerging Growth practice groups, was quoted in the article, “Capital Formation Deal Elusive as Senators Race Against Clock,” published by Bloomberg Law – Securities Law News
on November 30. The article covered the bipartisan package of capital formation bills, also known as the Jobs Act 3.0, that passed the House in July and is trying to make its way to the Senate floor.
, a shareholder in Stradling's corporate and tax practice groups, and Parker Schweich
, a shareholder in the firm's corporate and securities practice groups, co-authored an article, "The UP-C IPO: Strange name, Bankable structure," for the Orange County Business Journal,
that ran in its August 20th issue.
Compliance Week interviewed shareholder Ryan Wilkins for a story regarding the steady decline in public offerings. In response to this trend and in an effort to encourage participation in the public markets, incoming SEC chair, Jay Clayton, announced that the Division of Corporate Finance will permit all companies to submit draft registration statements relating to IPOs for review on a non-public basis. Wilkins commented that control is always an issue when companies consider going public. However, he mentioned that “we have seen dual-class stocks come back to an extent in recent years. Issuers continue to have takeover defense provisions in their governing documents.
Stradling litigation shareholder Marc Schneider, and Vice President of Legal Affairs at Cylance, Inc. Keith Palumbo, were featured in an Orange County Business Journal article about cybersecurity and the legal and practical considerations.