SEC Proposals on Shareholder Proxy Access

This post is from Theodore Mirvis of Wachtell, Lipton, Rosen & Katz.

Wars have many fronts.  The battle lines in the fight between the director-centric and the shareholder-centric models of the world now once again include the SEC, as it considers whether to allow shareholders to use a company’s proxy statement for director nominations.  Vigilance is required, and unmasking the true agenda is essential to get to the nub.

Here is one effort to prevent the dismantling of the system that has supported the most successful economy in the history of the world–and an argument against radical surgery for a healthy patient, driven by the “doctor’s” need for work.

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