Director Roundtable: The Law and Economics of Blockholder DisclosureNovember 12, 2012
The question is whether activist investors should be required to give public companies quicker notice of their accumulation of stock once they have reached a 5% threshold. Current U.S. law requires notice within 10 days of reaching this threshold. Mr. Lipton’s firm has filed a petition with the SEC to shorten this period and Prof. Bebchuk has taken the position that existing evidence does not provide a good basis for SEC adoption of the proposed change. Our guests will lay out their positions and debate the issues.
Lucian A. Bebchuk, William J. Friedman and Alicia Townsend Friedman Professor of Law, Economics, and Finance; Director, Program on Corporate Governance, Harvard Law School
Martin Lipton, Founding Partner, Wachtell, Lipton, Rosen & Katz
From Prof. Bebchuk
From Mr. Lipton
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