Media Mentions
2011
"Legal advisor of Rogers Corporation"
Juve Rechtsmarkt, March 2011
McDermott Will and Emery was mentioned as legal advisor of Rogers Corporation in the acquisition of Curamik Electronics GmbH, a manufacturer of power electronic substrate products headquartered in Germany for €116 million. The McDermott team was led by Konstantin Günther and Robert Manger.
Thomas Ammermann, Peter Bauschatz, Paul Melot de Beauregard, Michael L. Boykins, David A. Cifrino PC, Konstantin Günther, Corporate, Corporate - Germany, Finance & Banking, Germany, IP, Media & Tech - Germany, M&A - Germany, Mergers & Acquisitions, Securities, Tax, Tax - Germany
2010
David Cifrino and Andrew Liazos were interviewed by Corporate Board Member on March 12 concerning new Securities & Exchange Commission (SEC) proxy rules that require disclosure of public company compensation programs that create risks likely to have a material financial impact. Mr. Cifrino noted that “if a company doesn’t say that it has any such risks … the SEC has said it will ask the company to explain what process was used to make that determination,” and Mr. Liazos added that “a significant amount of time and money will need to be expended in many cases in order to be able to demonstrate that a company’s compensation programs do not encourage excessive risk taking.” Both lawyers said the new rules will have a major impact on compensation consultants and board compensation committees.
David A. Cifrino PC, Andrew C. Liazos, Corporate Responsibility and Governance, Employee Benefits, Executive Compensation
2009
David Cifrino was mentioned in the Massachusetts Bar Association web site on December 17 for his election as president of the Eastern New England Chapter of the Society of Corporate Secretaries & Governance Professionals. The Society’s members deal with public disclosure under the securities laws and corporate governance matters. Mr. Cifrino, co-head of McDermott’s Public Companies Group, represents a wide range of companies in securities, governance and other issues.
David A. Cifrino PC, Corporate
David Cifrino was quoted by Law360 on October 27 on the slow adoption of electronic shareholder communication forums, despite SEC rule changes meant to remove company concerns about liability for postings in such forums. Mr. Cifrino noted that the rule changes still have not assuaged most companies’ wariness about such chat rooms, saying that “[T]here are likely too many concerns about the possibility of inadvertent, insufficiently disseminated disclosures of material nonpublic information for the vast majority of public companies to feel comfortable pushing the envelope in this area.”
David A. Cifrino PC, Corporate
David A. Cifrino was quoted by Boardmember.com on October 7 regarding the concerns that potential government involvement in management oversight pose for members of corporate boards. “There are lots of bills pending [in Congress]” concerning not only governance, but also healthcare, financial reform, labor management, climate change, and energy, Mr. Cifrino stated. “Directors need to ask about legislation and how it will impact their company.” He added that another concern for board members should be the liquidity of their companies. “Boards should push management to explain what’s the plan now,” he declared. “Develop a strategy to deal with retooling the balance sheet, do what you can to assure liquidity. It’s all about cash generation.”
David A. Cifrino PC, Corporate, Corporate Responsibility and Governance
David Cifrino was cited in a September 2009 CFO Magazine story about companies that use the Twitter social networking site for communication. He urged the creation of effective policies that clearly state who has authority to speak on behalf of companies, particularly publicly held ones that are subject to Regulation FD’s requirements about disclosing material, non-public information. Mr. Cifrino suggested that, given the potential liability of disclosure problems, companies should only use Twitter if there is a compelling business reason for doing so.
David A. Cifrino PC, Corporate
David Cifrino was featured in an article on CorporateBoardMember.com (September 3) regarding board members and the concerns they face heading into 2010. Government involvement is one of the major concerns for boards. Mr. Cifrino commented, “There are lots of bills pending. Directors need to ask about legislation and how it will impact their company.” Economic uncertainties and preparing for the future are also among concerns for board members. Mr. Cifrino noted that cash is crucial during these uncertain economic times. “Companies need to be vigilant about liquidity. I find that [public] companies need to be proactive in ensuring liquidity for their companies. Lenders are not in a mood to be generous in terms of lending. Boards should push management to explain what’s the plan now. Develop a strategy to deal with retooling the balance sheet, do what you can to assure liquidity. It’s all about cash generation,” he said.
David A. Cifrino PC, Corporate
2008
David Cifrino was quoted in a May 7 article published by Forbes Online regarding the increase of phone calls from proxy solicitors, which have increased this year because new SEC rules regarding electronic delivery of proxy statements have reduced voting by shareholders. Mr. Cifrino commented that shareholders registered with their brokers as objecting beneficial owners ("OBO"), should not get calls from proxy solicitors. "If you sign up as an OBO, you shouldn't be pestered regularly," he said.
David A. Cifrino PC, Corporate, Public Companies, Securities
David Cifrino was quoted in a February 14 article published by Securities Law360 regarding a set of proposed rule changes by the SEC that would accelerate the annual reporting deadline for private issuers that are publicly listed in the U.S. as well as allow U.S. investors to more easily access the disclosure documents of foreign companies that are exempt from U.S. regulation. Mr. Cifrino commented on the new rules and stated that the changes were not "earth-shattering," however they were a step in the right direction to modernize disclosure requirements. "It's making it a little bit easier for these companies to stay outside of regulation," Mr. Cifrino said.
David A. Cifrino PC, Corporate, Securities
2007
Christian von Sydow, David Cifrino and Paul Melot de Beauregard were mentioned in the February issue of Juve Rechtsmarkt regarding Nova Analytics in the acquisition of Ebro Electronic Instruments.
Paul Melot de Beauregard, David A. Cifrino PC, Christian von Sydow, Corporate, Employee Benefits, Intellectual Property
2006
David Cifrino was quoted in the January 5 issue of The Boston Globe on Sovereign Bancorp's decision to delay their annual meeting until two transactions close in order to gain a large, friendly shareholder in Santander to help vote against Relational's plans to oust all of the bank's directors.
David A. Cifrino PC, Corporate, Corporate Responsibility and Governance
2005
David Cifrino was quoted in the November 9 issue of the Boston Globe in regard to relational investors accusing the directors of Sovereign Bancorp of a "breach of trust" with shareholders.
David A. Cifrino PC, Corporate
2004
David Cifrino was quoted in CFO magazine on March 2 regarding the U.S. Securities & Exchange Commission's (SEC) new budget of $811.5 million, 15% more than their budget last year. Last year's funding increase was dedicated to adding 842 new positions, boosting the SEC staff by 30%. Mr. Cifrino commented, "Adding people will add to more [frequent] review of periodic filings but whether it increases the quality and value of the reviews remains to be seen."
David A. Cifrino PC, Securities
2002
David Cifrino was quoted in the September issue of CFO Magazine in an article which outlined a few of the many worries of CFOs and CEOs in the post-Enron environment and the recent enactment of the Sarbanes-Oxley Act. Mr. Cifrino commented on a "guilt by association" worry in regard to a provision regarding an ethics code for finance offers included in the Sarbanes-Oxley Act, which the article stated some executives may take personally. Don't, the article stated; the ethics code provision is simply "reflective of the publicity given to misconduct by people in finance and accounting -- that's where the scandals have been," Mr. Cifrino commented.
David A. Cifrino PC, Corporate Responsibility and Governance
