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« UnitedHealth Continues to Stumble | Main | Darn Lawyers »

October 21, 2006

SEC Does Not Act

SEC did nothing to change the shareholder resolution rule recently interpreted by the Second Circuit to allow shareholder challenges to firm voting procedures.  The refusal to act was a big, big deal.  Now shareholders, for the spring meetings, can put shareholder bylaw proposals in firm proxy materials to allow for shareholder nominations to the board of directors.  For more see Gretchen Morgenson, Fresh Air for Board Elections? NY Times Oct 15, 2006 at Sec 3, p. 1

October 21, 2006 in Government and Business | Permalink

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