The SEC Just Abandoned Rule 14a-8: Boards Now Bear Full Liability for Shareholder Proposal Exclusions
In November 2025, the Securities and Exchange Commission made a decision that fundamentally reshapes how corporate boards govern shareholder proposals. The Division of Corporation Finance suspended its historic review of shareholder proposal exclusion decisions,...
The Section 232 Pharmaceutical Tariff Decision: Board Governance Under Pressure
On April 2, 2026, President Trump issued a Proclamation invoking Section 232 of the Trade Expansion Act of 1962 to impose a 100 percent ad valorem tariff on patented pharmaceutical imports and active pharmaceutical ingredients. The tariff becomes effective July 31,...
The Section 232 Pharmaceutical Tariff Proclamation: Board Governance and Supply Chain Strategy in an Era of Tariff-Driven Restructuring
On April 2, 2026, President Trump issued a proclamation imposing tariffs up to 100 percent on patented pharmaceuticals and active pharmaceutical ingredients (APIs) under Section 232 of the Trade Expansion Act of 1962. The tariffs take effect July 31, 2026 (for major...
The 100% Pharmaceutical Tariff: Three Paths, One Board Decision, 100 Days
President Trump’s April 2, 2026, Proclamation under Section 232 of the Trade Expansion Act of 1962 establishes a 100 percent ad valorem tariff on patented pharmaceutical products and their associated active pharmaceutical ingredients (APIs) imported into the...