Tuesday, August 28, 2012
Over at Corporate Counsel, they've posted a useful update on the current state of exclusive forum provisions. One change over the past year of note has been the change in stance of ISS with respect to such provisions. They have moved from a qualified vote against recommendation to a "case-by-case" approach shareholder questions with respect to such provisions. Glass Lewis continues to recommend against such provisions. Of interest, CC notes that in 2012 none of the shareholder resolutions against exclusive forum provisions passed notwithstanding recommendations against by both Glass Lewis and ISS.