Following the decision, the SEC immediately announced that it would consider amending Rule 14a-8 to address the Second Circuit’s decision. In October, however, the SEC deferred consideration of any proposed amendment to Rule 14a-8 until the open meeting scheduled for December 13. From the agenda published for next week’s meeting, it is apparent that the Commission has again decided to delay its consideration of this subject.

Individuals affiliated with the Program have over the past several years actively participated in the debate over proxy access. This involvement includes:

-An amicus curiae brief in the AFSCME v. AIG case itself, filed by Lucian Bebchuk, Allen Ferrell, Reinier Kraakman, Mark Roe, and Guhan Subramanian, in support of shareholders’ right to introduce proxy-access proposals;

-A letter on this subject sent to the SEC by several members of the faculty and other law professors;

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