The Herrick Advantage
Herrick corporate partners
Irwin A. Kishner and
Daniel A. Etna advised longtime client, Legends Hospitality
Management, LLC, a premier provider of hospitality, merchandising
and ticketing services, in its equity investment in DraftKings, a
daily fantasy sports contest service. The $300 million venture
funding round involved both new and existing investors and was
reported in
Sports Business Journal as "sending a
historic wave of investment into the [fantasy sports
industry]."
SEC Adopts Final Pay-Ratio Disclosure Rule
The Securities and Exchange Commission ("SEC"), by a
3-2 vote, adopted a final rule implementing the CEO pay-ratio
disclosure requirements of Section 953(b) of the Dodd-Frank
Act. The rule adds Item 402(u) of Regulation S?K which will
require certain SEC reporting companies to disclose annually the:
(i) median annual total compensation of all their employees,
excluding the CEO; (ii) annual total compensation of the CEO;
