On July 16, 2025, for perhaps the first time in the history of Delaware corporate law, a Caremark claim involving a public company director went to trial. Meta stockholders brought an $8 billion claim against the company’s directors and officers,
Latest from The CLS Blue Sky Blog
SEC Commissioner Peirce on Proposed Transfer Agent Rules
I am delighted that the transfer agent rule proposal is seeing the light of day before I leave the Commission. Thank you to Jamie Selway, Elizabeth Fitzgerald, Moshe Rothman, and the rest of the staff in the Division of Trading
If Companies Report Less, Boards Should Explain More
Few empirical studies end up on both sides of a major regulatory fight, and fewer still get accused of being read too selectively by one side. My 2021 study on Israel’s voluntary transition to semiannual reporting has been at the center
Weil Gotshal Discusses Equity Markets as a Balance Sheet Management Tool
A wave of near-term debt maturities, persistent covenant pressure, and a financing market that rewards speed and certainty over marketed processes have pushed balance sheet management to the top of the agenda for management and boards of highly levered companies.
The Problem With Reputation-Based Governance in Private Funds
Raising a first-time private fund is extraordinarily difficult. Incumbent managers have long-held and significant advantages in fundraising, and the challenge of breaking into the industry has only grown steeper in recent years as fundraising has slowed and capital has consolidated
Skadden Discusses UK Regulatory Framework for Stablecoins
Executive Summary
- What’s new: The Bank of England and UK Financial Conduct Authority have published policy statements outlining the UK’s plans for regulating stablecoins.
- Why it matters: The UK is establishing a two-tier approach for systemic and nonsystemic stablecoins, with enhanced regulation
Pension Fund Trustees and the Prudent Person Standard in Private Credit
As private credit has expanded into a mainstream asset class, trustees who manage pension fund portfolios on behalf of beneficiaries face an evolving set of challenges. This piece explores the prudent person standard that guides pension fund trustees as they
Challenging Banking Agency Examination Results
As part of a broader shift in the regulatory landscape, federal banking agencies are working to make exams more objective and financial in focus. For example, the Federal Financial Institutions Examination Council (“FFIEC”) recently released a notice of proposed rulemaking
Private Credit Comes Courtside
Private credit and fraud are teaming up to hit the news cycle again. The latest story relates to the conflicts among private credit, private equity, and insurance.[1] This has resulted in one of the most successful sports franchise
Paul Weiss Discusses CFIUS 2025 Annual Report
On August 7, 2026, the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”) released its Annual Report to Congress for calendar year 2025 (the “Report”).[1] In an accompanying press release, the U.S. Department of the