Welcome to the latest edition of Fenwick’s Securities Law Update. This issue contains updates and important reminders on the following topics:
- The SEC shortening the minimum offering period for tender offers to 10 business days, approving Nasdaq’s 23/5 trading proposal, and submitting a semiannual reporting proposal to the White House
- Washington state banning noncompete agreements
- A Massachusetts federal court granting a shareholder proponent’s preliminary injunction requiring a public company to include the proponent’s shareholder proposal in the company’s proxy statement
- State Street publishing its 2026 global proxy voting and engagement policy