Staff Assents To Exclusion Of Shareholder Proposal Requiring California Company To Hire Investment Banker

I’ve been highlighting some Rule 14a-8 no action letters concerning California Corporate law. This March 14 post discussed an unsuccessful request to exclude a proposal relating to cumulative voting and this March 18 post covered a successful request to exclude a proposal from John Chevedden. (In this post last Tuesday, Broc Romanek wrote about KBR’s recent litigation win against Mr. Chevedden.)

More recently, National Technical Systems, Inc. requested no-action advice concerning the following shareholder proposal...

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