May A Board Sanction A Director By Withholding Corporate Information?

A recent Alaska Supreme Court decisions addresses, but does not decide, the question of whether a corporation may punish a director by withholding corporate information. In Borer v. Eyak Corp., 2022 Alas. LEXIS 37, winning candidate for a seat on the board of directors of an Alaska Native Corporation declined to sign the corporation’s confidentiality agreement and code of conduct. The Code of Conduct included the following provision:

[A] director who breaches the Confidentiality Agreement . […]

By | Nov 29, 2022 ||

Notable Trends In The Private Markets

The private market ecosystem experienced strong growth in 2021. The number of recognized unicorns (defined as private companies having $1B+ valuation) grew from 564 in 2020 to 882 in 2021. Nasdaq Private Markets’ (“NPM”) 2021 Annual Report noted that in addition to elevated deal size for companies, secondaries have evolved as an avenue to provide investment allocations to strategic investors not able to engage through primary fundraising rounds. The Report highlighted certain notable trends in the […]

By | Nov 27, 2022 ||

ESG Risks For Cannabis Companies Will Impact Directors And Officers

Corporations are increasingly responding to environmental, social and corporate governance (ESG) concerns, driven by evolving public sentiment and investor demands. This has taken the form of corporate pledges of action on ESG issues, sometimes from the directors and officers (D&Os). Cannabis companies have been trailblazers on social equity, inclusion and environmental issues, highlighting their importance long before ESG gained traction in the wider corporate world. Despite its well-intentioned words and actions, however, the cannabis […]

By | Nov 25, 2022 ||