Law Mandates CalPERS/CalSTRS Support For Shareholder Resolutions Supporting Religious Minorities
In 1999, the legislature enacted SB 105 (Burton) which obligates CalPERS and CalSTRS to support, whenever feasible, shareholder resolutions at domestic and international corporations in which those funds have invested that are designed to encourage, among other things: Increased representation of individuals from underrepresented religious groups in the work force, including managerial, supervisory, administrative, clerical, and technical jobs; and Banning of provocative Read more...
Can Officers Contract For The Business Judgment Rule?
Yesterday, I wrote about a recent memorandum opinion by U.S. District Court Judge Dale S. Fischer that led to a jury verdict awarding nearly $169 million in damages against three former corporate officers. Among other things, Judge Fischer ruled that the business judgment rule is not available to corporate officers under California law. Nearly four years ago, the Delaware Supreme Court held that “the Read more...
