Divided SEC Proposes Rules to Permit Shareholder Access to a Company's Proxy Statement for Director Nominations

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On May 20, 2009, a divided Securities and Exchange Commission (the “SEC”) proposed changes to the federal proxy rules to permit shareholders to include their director nominations in a company’s proxy statement. The proposal was approved by a 3-2 vote along party lines.

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Morrison & Foerster LLP on:

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