In September 2023’s Public Company Watch, we tackled several issues influencing public firms, starting with the SEC’s new Compliance and Disclosure Interpretations (C&DIs) and sample remark letters. Issuers are advised to consider these points as they begin planning for their Form 10-Q submissions.
Of particular note is the SEC’s most recent settlement of charges relating to a Non-Fungible Tokens (NFTs) case. The case represents one of the outcomes of increased scrutiny on the burgeoning cryptocurrency industry. This is undoubtedly an area that corporate legal teams will need to remain vigilant about as the regulatory environment around digital currencies continues to evolve.
Significant legal judgments were also covered this month. Notably, the Delaware Supreme Court has provided clarity on the standard of review applicable in contested elections. The decision will have meaningful implications for contested corporate board elections, helping to solidify the legal framework for these matters.
A noteworthy case this month was Stephen Thaler v. Shira Perlmutter and The United States Copyright Office. Although the article does not provide substantial details on the case, it serves as a reminder of the complexity of contemporary copyright issues. It’s another area where corporate legal departments will need to ensure they are up-to-date on developments to avoid regulatory missteps.
Overall, the month was characterized by important legal determinations and regulatory updates affecting the corporate legal landscape. It will undoubtedly be interesting to track the ramifications over the next few months.
For more detailed read, find it here. Authored by Paul Hastings LLP, the article provides a comprehensive exploration of these significant developments.