1. Articles in category: BoardNews

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    1. Oracle is Suing Larry Ellison and Safra Catz Over The $9 Billion NetSuite Deal, Thanks to Letter Written by Three Oracle Board Members

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      Oracle is Suing Larry Ellison and Safra Catz Over The $9 Billion NetSuite Deal, Thanks to Letter Written by Three Oracle Board Members
      • A three-member committee of Oracle's board has written an extraordinary letter to a Delaware court.
      • The letter, dated August 15, grants permission for a shareholder-initiated lawsuit to proceed against Oracle founder and chairman Larry Ellison, as well as one of Oracle's co-CEOs, Safra Catz.
      • This is a "derivative lawsuit" meaning it was filed on behalf the company against the directors...
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      Mentions: Oracle NetSuite

    7. UHS Execs, Directors Escape Lawsuit Over Billing Practices

      Explore Becker's Hospital Review BoardNews
      UHS Execs, Directors Escape Lawsuit Over Billing Practices

      A Pennsylvania federal judge has dismissed a shareholder lawsuit against several of Universal Health Services' top executives and directors. Shareholders began filing derivative lawsuits against King of Prussia, Pa.-based UHS in 2017 after Buzzfeed News reported that UHS psychiatric hospitals kept patients longer than necessary and against their will to maximize reimbursement from insurers...

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      Mentions: Shareholder Lawsuit uhs

    10. Group of Top CEOs says Maximizing Shareholder Profits No Longer can be the Primary Goal of Corporations

      Explore The Washington Post BoardNews
      Group of Top CEOs says Maximizing Shareholder Profits No Longer can be the Primary Goal of Corporations

      The new statement, released Monday by the Business Roundtable -- whose members are CEOs of America’s largest companies -- suggests balancing the needs of a company’s various constituencies and comes at a time of widening income inequality, rising expectations for corporate behavior and proposals from Democratic lawmakers that aim to restructure American capitalism...

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      Mentions: Jamie Dimon Shareholder Primacy maximizing shareholder profits

    11. Boston-Based General Electric Suffers Worst Stock Drop In 11 Years

      Explore CBS Boston BoardNews
      Boston-Based General Electric Suffers Worst Stock Drop In 11 Years

      General Electric fought back Thursday night after the company was accused of fraud and its stock experienced its worst one-day percentage drop since April 2008. General Electric shares plunged more than 11% Thursday after Harry Markopolos, who is famous for blowing the whistle on Bernie Madoff’s Ponzi scheme in 2008, accused GE of orchestrating a massive fraud. GE CEO Larry Culp on Thursday bought 252,200 shares at $7.93 per share, a purchase worth almost $2 million, according to an SEC filing...

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      Mentions: General Electric Harry Markopolos Larry Culp

    15. Care.com Needs Supervision

      Explore wsj.com BoardNews
      Care.com Needs Supervision

      Activist investor calls for Care.com to consider a sale, but even that may not be enough to restore parents’ lost trust Care.com’s days as an independent matchmaker could be limited. New York-based activist investor Engine Capital L.P. is calling for the company to explore a sale in the wake of The Wall Street Journal’s March investigation which showed it provided limited vetting of its caregivers, sometimes with tragic results...

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      Mentions: Activist Investors Care.com

    19. WeWork Doesn’t Have a Single Woman Director, According to IPO Filing

      Explore CNBC.com BoardNews
      WeWork Doesn’t Have a Single Woman Director, According to IPO Filing

      It’s 2019, and a $47 billion company is going public with an all-male board of directors. WeWork’s parent known formally as the We Company disclosed who comprises its board in an initial public offering prospectus early on Wednesday. Among the seven members, not a single one is female. The company was most-recently valued privately at $47 billion although it’s unclear if they’ll receive the same price tag from the public markets...

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      Mentions: Board Diversity IPO WeWork

    20. WeWork's Founder and CEO Didn't Take a Salary Last Year as the Company Prepared for its Massive IPO

      Explore Business Insider BoardNews
      WeWork's Founder and CEO Didn't Take a Salary Last Year as the Company Prepared for its Massive IPO
      • WeWork's CEO was paid nothing in 2018, the company said in its initial public offering filing on Wednesday.
      • Adam Neumann is worth an estimated $4.1 billion after founding the company a decade ago.
      • WeWork, the $47 billion co-working company, is going public. Here's everything we know about what's going on.
      Adam Neumann, the billionaire Israeli businessman and founder of WeWork, didn't take a salary in 2018, the company said Wednesday...
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      Mentions: Executive Compensation IPO WeWork

    22. Third Point Cuts United Technologies Stake After Opposing Raytheon Deal

      Explore Channel NewsAsia BoardNews
      Third Point Cuts United Technologies Stake After Opposing Raytheon Deal

      BOSTON: Hedge fund Third Point LLC said on Tuesday that it recently cut its investment in United Technologies Corp , becoming the second activist hedge fund to sell shares after the company announced a merger with Raytheon Co. that the funds said they would not support. The New York-based firm sold 480,000 shares of United Technologies stock during the second quarter, cutting its holding by 7 percent to 6 million shares, according to a regulatory filing made on Tuesday...

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      Mentions: Activist Investors Dan Loeb Third Point
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