1. Articles in category: BoardNews

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    1. Zoom Sued by One of its Own Shareholders for Allegedly Covering up its Security Flaws

      Zoom Sued by One of its Own Shareholders for Allegedly Covering up its Security Flaws
      • Zoom is reportedly being sued by one of its own shareholders for allegedly hiding security flaws in its app.
      • Bloomberg reports that shareholder Michael Drieu filed a class-action lawsuit Tuesday in a San Francisco federal court, claiming revelations about Zoom's deficiencies affected its stock price.
      • The videoconferencing service has come under fire this month over multiple security-related issues, despite seeing a surge in use amid the coronavirus crisis...
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    2. China Streaming Platform iQIYI Accused of Fraud by Activist Investor Wolfpack

      China Streaming Platform iQIYI Accused of Fraud by Activist Investor Wolfpack

      U.S.-based securities analysis firm and activist investor Wolfpack Research has publicly accused Chinese streaming platform iQIYI of fraud. iQIYI “massively [inflated] its user numbers and revenue while at the same time hiding the fraud from auditors and investors by overpaying for content, acquisitions and other assets,” Wolfpack said. “IQIYI is nearing its 10-year anniversary and it has never been profitable and its losses are accelerating...

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      Mentions: Investors IPO Twitter
    3. Chevron Execs Capture Big Pay Raises, CEO Pay is $33 Million

      Chevron Execs Capture Big Pay Raises, CEO Pay is $33 Million

      SAN RAMON — Chevron’s top boss captured a big increase in his executive pay during 2019, according to a regulatory filing on Tuesday. Michael Wirth, Chevron’s chief executive officer, was awarded $33.1 million in compensation in 2019, which was up 60 percent from his pay levels of $20.6 million in 2018, a company filing with the Securities and Exchange Commission shows...

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    4. REI Stores Stay Shut, Workers Furloughed, No Pay for CEO

      REI Stores Stay Shut, Workers Furloughed, No Pay for CEO

      SEATTLE (AP) — REI said Monday it would keep its 162 retail locations closed and furlough some of its roughly 14,000 employees without pay for 90 days as the COVID-19 pandemic continues to halt much of the retail industry . CEO Eric Artz, who announced the decision in a blog post, said he and the Kent-based company's board would go without compensation for six months, The Seattle Times reported...

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    5. Jamie Dimon's Latest Shareholder Letter Outlines 5 Ways JPMorgan is Trying to Improve Diversity

      Jamie Dimon's Latest Shareholder Letter Outlines 5 Ways JPMorgan is Trying to Improve Diversity
      • Jamie Dimon's annual letter to JPMorgan Chase shareholders was published Monday.
      • While it focused primarily on the coronavirus pandemic's effect on the financial institution, it also included a section about the company's diversity and inclusion efforts.
      • The section acknowledges a 2019 report by the New York Times alleging racial discrimination at the bank...
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    6. WeWork Troubles Deepen as SoftBank Pulls Tender Offer

      WeWork Troubles Deepen as SoftBank Pulls Tender Offer

      SoftBank Group said it has terminated a $3 billion tender offer for additional WeWork shares agreed last year with shareholders. The move has drawn threats of legal action and plunging the floundering office space company further into crisis. The tech investment giant said in statement that given its duty to its shareholders it could no longer proceed with the deal...

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    7. Top Comcast, NBCUniversal and Sky Executives to Donate Salary Amid Crisis

      Top Comcast, NBCUniversal and Sky Executives to Donate Salary Amid Crisis

      Comcast chief Brian Roberts, NBCUniversal CEO Jeff Shell and other division leaders at Comcast will donate their salaries to coronavirus -related relief efforts as the world grapples with the devastating pandemic. In a memo sent to Comcast’s 190,000 employees worldwide on Wednesday. Roberts said the salary donations would also be made by Comcast CFO Mike Cavanagh, Comcast Cable chief Dave Watson and Sky CEO Jeremy Darroch...

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      Mentions: Twitter CFO crisis
    8. Office Depot, Inc. Announces Board Approval of Holding Company Reorganization

      Office Depot, Inc. Announces Board Approval of Holding Company Reorganization

      Office Depot, Inc. ("Office Depot" or the "Company") (NASDAQ: ODP), a leading integrated business-to-business distribution platform of business services and supplies, today announced that following the completion of its previously announced feasibility review, its Board of Directors approved proceeding with the implementation of a holding company reorganization...

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    9. Airlines Must Suggest Possible U.S. Compensation for Grants

      Airlines Must Suggest Possible U.S. Compensation for Grants

      WASHINGTON/CHICAGO (Reuters) - Airlines must suggest possible compensation in return for government cash assistance and agree to conditions that include not cutting pay or laying off employees through Sept. 30, the U.S. Treasury Department said in guidelines issued on Monday as it prepares to quickly hand out $25 billion...

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    10. Proxy Firm Wants Shaq Off Papa John’s Board for Missing Too Many Meetings

      Proxy Firm Wants Shaq Off Papa John’s Board for Missing Too Many Meetings

      When Papa John’s signed Shaquille O’Neal to a major partnership one year ago that included nine franchises and a board seat, it was seen as a major turning point for the brand. The company had spent $50 million in 2018 to scrub founder John Schnatter’s face from pizza boxes and delivery vans, and O’Neal, a high-demand product endorser, will clearly be the marketing face of the brand moving forward...

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