While the initial Form NPX is not due until August 2024, the reporting period covered will be the year beginning July 1 2023. A manager that is subject to Rule 14Ad1 should start to record its voting activity in a manner that anticipates the disclosure requirements.
On April 18, 2023, Judge William H. Orrick of the United States District Court for the Northern District of California denied a motion to dismiss a putative securities class action.
Insurance inadequate consideration for merger- Where insurance provision excluding indemnification of claims for inadequate consideration in merger applied even though plaintiffs also alleged inadequate disclosure under Sec. 14 of the Securities Exchange Act.The 7th U.S. Circuit Court of Appeals.