Securities Law Update — April 30, 2025

By: Ran Ben-Tzur , Amanda L. Rose , David A. Bell , Wendy Grasso , Merritt Steele

Welcome to the latest edition of Fenwick’s Securities Law Update. This issue contains updates and important reminders on:

  • Form 10-Q and proxy statement disclosures
  • The SEC’s updated Compliance and Disclosure Interpretations (CDIs) on Rule 10b5-1 plans, clawbacks, and de-SPAC transactions
  • The SEC’s approval of Nasdaq’s proposed changes to the initial listing requirements related to liquidity
  • The SEC’s updated guidance on cryptocurrencies
  • Delaware’s adoption of significant amendments to the Delaware General Corporation Law (DGCL)