As the dust settles on Alibaba’s IPO, the single largest initial public offering to date, experts have turned their attention to a less-celebrated aspect: the relative lack of shareholder control in firm operations. Alibaba listed on the NYSE, an unexpected choice over the Hong Kong Stock Exchange1 Although every Alibaba share technically has equal rights,…
Author: Julia Feldman
Testing Sarbanes-Oxley: The American Realty Capital Properties Scandal
American Realty Capital Properties’ stock price plunged nearly 20% on October 29th after the company disclosed that it had intentionally left mistakes in its financial statement uncorrected. 1 By November 3rd, less than a week later, American Realty Capital Properties’ shares had plummeted nearly 37% since the announcement. 2 According to Pennsylvania Governor Edward Rendell, an independent…
In Takeover Battle, Allergan Agrees to Special Meeting Amidst Critique of Restrictive Bylaw
On September 15, 2014, Allergan made a concession in its contentious battle to thwart Valeant Pharmaceuticals and hedge fund Pershing Square Capital Management in their joint attempt at a $53 billion takeover of Allergan. 1 The concession was to agree to the special meeting called by Pershing Square with the hope of voting out a…