The SEC charged a former CEO, Chairman, and director of a public company with proxy disclosure rule violations for his failure to disclose a close personal relationship with a company executive that vitiated a director independence determination and associated disclosure. Among other things, the defendant agreed to a 5-year officer and director bar in response to the charges.
See the SEC’s release and these posts from Winston & Strawn and Norton Rose Fulbright.
This post first appeared in the weekly Society Alert!