Shareholder proposal rule
Last week, two shareholder advocacy groups – the Interfaith Center on Corporate Responsibility and As You Sow – sued the SEC over its statement issued last November that it wouldn’t respond to Rule 14a-8 no-action requests –...more
As discussed in more detail in Cooley’s October 10 alert, remarks by Securities and Exchange Commission (SEC) Chairman Paul Atkins suggest that Delaware-incorporated companies may be able to exclude precatory (nonbinding)...more
During each annual proxy “season,” companies receive and respond to shareholder proposals and often attempt to exclude these proposals from their proxy statements through no-action requests submitted to the U.S. Securities...more