Broadridge Financial Solutions, Inc. (“Broadridge”), the leading U.S. firm that distributes materials on behalf of banks and brokers and collects shareholder ballots, recently decided to stop sharing real-time polling information with investors that sponsor shareholder proposals.
Broadridge’s announcement came only a few days before the conclusion of a highly publicized and contentious campaign to strip Jamie Dimon, the head of JPMorgan Chase & Co. (“JPMorgan”), of his title as chairman. As a result of Broadridge’s decision, Dimon and JPMorgan’s board of directors continued to receive updates on incoming votes, while the investors that sponsored the shareholder proposal did not.
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