"It's Dark as a Dungeon Way Down in the Mines" - CalPERS Declines to vote against Massey Energy Co. Proposal

Last week, I expressed surprise in this post about the California Public Employees Retirement System’s recent announcement that it plans to abstain on a proposal by Massey Energy Company to jettison cumulative voting. My surprise was based on the fact that Government Code Section 6900 specifically and unequivocally requires CalPERS and other state agencies to vote in favor of cumulative voting. I did ask CalPERS for a comment on its position and I received the following response on Monday...

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Published In: Elections & Politics Updates, Energy & Utilities Updates, Labor & Employment Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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