Hints and tips:
...Apollo said: “The TRA transaction being challenged was the result of a deliberative process and negotiated and approved by a committee of independent directors at Apollo, with the assistance of the committee...
...The statement added: “It could be seen as raising potential questions regarding conflicts of interest and whether appropriate fiduciary process is being followed to equally protect the interests of minority...
...A $95.2bn Massachusetts state pension fund voted last week to change the name of its ESG Committee to the Stewardship and Sustainability Committee....
...The audit “was inconclusive, but the board is very clear of its fiduciary duties and obligations”....
...Their rules are usually set out in a written constitution, while party affairs are handled by a committee chosen by members....
...The board believed it had a fiduciary duty to get the best price even if the winning buyer came from abroad....
...Given the fiduciary duty they owe their clients, the Committee cannot possibly consider or countenance providing more debt relief than is necessary to restore debt sustainability as defined by the IMF....
...“You didn’t think you had a fiduciary responsibility to those young women?” Kennedy asked....
...“We believe that the transaction with Rithm substantially undervalues the company and penalises all shareholders for the board of director’s breaches of fiduciary duty and the lack of proper oversight that...
...He asked for creditors and shareholders from across the group to unite under a single “group-wide steering committee” as the only viable way to fairly unwind its operations....
...In a recent note, Houchois at Jefferies criticised Musk’s “cavalier attitude towards governance and fiduciary duties”, a record of “misallocating his own capital” and “questionable strategic and product...
...that surely advances the Special Committee’s duty to maximize shareholder value....
...Och this month attacked the $639mn transaction as bad for shareholders, accusing the board of breaching its fiduciary duty by selling Sculptor on the cheap....
...At the time, he was chair of a creditors’ committee, something that made his aggression and subsequent cover-up an obvious breach of fiduciary duty; in a secret recording later used as evidence, he acknowledged...
...“[We] are surprised that the takeover committee appears unwilling to engage with potentially higher offers from other interested parties,” said Schroders....
...And the way that they decide to do that is to form this special committee where they can sell Sculptor....
...Perhaps if [pension fund] advisers had been more sensitive to dealing with levels of stress like this, some of that risk would have been managed more effectively,” FCA boss Nikhil Rathi told a parliamentary committee...
...However Straub argued: “The company has a fiduciary duty to accept our offer considering the proceeds will go to the sanctions committee.”...
...“We have been informed that the US executive committee has decided not to move forward with the design of Project Everest,” the leaders wrote in the note, which has been seen by the FT....
...The decision to review the fiduciary duties of pension fund trustees in relation to climate and energy transition risks is significant....
...“BlackRock’s role in the transition is as a fiduciary to our clients — it is not to engineer a specific decarbonisation outcome in the real economy,” BlackRock wrote in its response....
...Some of them also offer fiduciary management, which involves the delegation of some investment decisions by trustees to advisers, alongside providing investment advice....
...“All of our congressional investigations clients are very aware of how video tapes were used during the select committee hearings,” Covington’s Kelner said....
...It set up a cross-disciplinary ESG disclosure committee from across the company....
...In the US, Republican politicians and officials have singled out Gfanz and its members, including BlackRock, which sits on the alliance’s steering committee, for criticism that fiduciary duty could be compromised...
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