The federal court issued certified questions to the Delaware Supreme Court related to the enforceability of the fee-shifting bylaw. The Delaware Supreme Court held that a fee-shifting bylaw is permissible as a matter of Delaware law and the bylaw before the court was “facially valid” in that it complied with the Delaware General Corporation Law and was not otherwise prohibited. The court added that the enforceability of any specific bylaw, including ATP’s bylaw, would depend in part on the manner in which the bylaw was adopted and invoked. Even where it is within a corporation’s power to adopt a bylaw, it may be invalid if adopted or applied for an inequitable purpose. The court did not reach that issue with respect to the specific bylaw before it and left the issue to be decided by the federal district court. … [Read more...] about Delaware Law Update: Fee-Shifting Bylaw Provisions and the Use of a Poison Pill in Response to Activist Investor Activities
Trump also promised to reduce consumers' out-of-pocket costs. He proposes to accomplish this by eliminating cost-sharing on generic drugs for low-income Medicare beneficiaries and for people who obtain drugs from certain hospitals and clinics through the340B program. Because these reforms are intended to insulate consumers from drug costs, they are likely to push prices up — not down — by spurring demand and eliminating any incentive to comparison shop. When consumers pay nothing for drugs at the point of sale, they will use more of them and won't care how much money insurers are spending. … [Read more...] about Stock prices jumped when Trump announced his prescription drug plan — here’s what’s in it for Wall Street
“The trading in the new quarter is getting off to an ugly start as hostile trade talks and retaliation by trading partners weigh on the markets. These effects are sending shock waves across the global markets,” Peter Cardillo, chief market economist at First Standard Financial in New York, wrote in a note. … [Read more...] about Wilbur Ross: Plunging Stocks Won’t Change Trump Trade Policy
Marijuana activist Chris Lawson makes a speech on stage during a rally in support of legalizing marijuana on June 5, 2004, on Parliament Hill in Ottawa, Canada. After Canada’s parliament voted to legalize recreational weed on June 19, marijuana stocks in the country immediately surged. Donald Weber/Getty Images … [Read more...] about Is Canada’s Marijuana the New Bitcoin? Stocks Surge After Legalization
U.S. stocks have beaten foreign stocks in part as investors seek a more stable market during the rocky period, analysts say. Strong U.S. economic and earnings growth has helped. While the S&P 500 has risen 4.5% this quarter and is trading within roughly 1% of its all time high, the MSCI AC World ex-USA Index has fallen 1.3% this quarter and is down nearly 7% for the year so far. … [Read more...] about Hayward: Trump Policy Shakes Up Foreign Markets, Brings Investors to the U.S.