July 14, 2008
Bylaws Require Activist Shareholders to Disclose Stock Information
The Wall St. Journal reports that many public companies, including Pfizer, Monsanto and Sara Lee, have amended their bylaws to require that investors who propose directors or shareholders' resolutions disclose their activities in the company's shares, including borrowing or lending shares and hedges to protect against price declines. WSJ, Companies Alter Bylaws To Pry Data Out of Activists.
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