Today we continue our weekly installment highlighting the best of the corporate and securities blogosphere from this past week. If there are any corporate or securities blogs you think should be highlighted by our Top 5, please comment on this post and we’ll check them out!
1) Jim Hamilton’s Blog: European Commission Proposes New EU Securities Settlement Regime – This post reports on the European Commission’s proposal for a common EU regulatory framework for the institutions responsible for the securities settlement, called Central Securities Depositories (CSDs). According to the post, “The proposal will bring more safety and efficiency to securities settlement in Europe. It also seeks to shorten the time it takes for securities settlement and to minimize settlement fails.”
2) Federal Securities Law Blog: SEC Charges Investment Funds And Others For Violations Relating to the Purchase of Private Company Share – This post discusses the SEC’s federal court complaint and Administrative Proceeding relating to private investment funds established to acquire the shares of Facebook and other privately held Silicon Valley firms.
3) California Corporate & Securities Law: A Good Meal, A Good Time And A Good Securities Offering? - This post shares concern over the solicitation of prospective purchaser after being wined and dined by the solicitor. The post questions when securities are being offered to the public and discusses a California administrative decision addressing the issue.
4) Deal Book: NYSE Won’t Appeal E.U. Rejection of Deutsche Borse Merger – This post discusses how the New York Stock Exchange will not appeal the European antitrust regulators’ rejection of its planned merger with Deutsche Börse. As per the post, “While maintaining that it believed the Commission’s decision to be wrong, NYSE Euronext said it would rather move on.”
5) The D&O Diary: A Closer Look at Life Sciences Companies and Securities Litigation - This post shares the results of a memorandum entitled “Survey of Securities Fraud Class Actions Brought Against Life Sciences Companies” by David Kotler of the Dechert law firm. It reports that securities class action lawsuit filings against life sciences companies were about approximately 9% of all 2011 securities class action suits. According to the post, “It should be noted that these filings statistics do not reflect lawsuits filed against life sciences companies involving merger objection allegations. If the M&A suits were included, the statistics would reflect an even greater frequency of corporate and securities lawsuits involving life sciences companies.”