Tag: no-action requests

Why does management seek to exclude shareholder proposals?

by Cydney Posner In this recent preliminary working paper, Why Do Managers Fight Shareholder Proposals? Evidence from No‐Action Letter Decisions, academics at the USC Marshall School of Business attempt to determine why corporate management seeks to exclude shareholder proposals: are corporate managers acting as “responsible managers” who view shareholder proposals […]

Is Corp Fin changing its tune on shareholder proposal exclusions?

by Cydney Posner Copied below is a long excerpt from Broc’s blog on thecorporatecounsel.net, which raises the question of whether Corp Fin’s prior position on 14a-8(i)(9), the exclusion for directly conflicting proposals, is the only position regarding shareholder proposals they are reconsidering this proxy season. Should we expect more “reflecting” […]

Corp Fin tallies shareholder proposal no-action requests and responses

by Cydney Posner As reported by Bloomberg, director of Corp Fin Keith Higgins, speaking at the ABA meeting of the Business Law section in Chicago, provided Corp Fin’s tally of no-action requests and responses in connection with shareholder proposals for the 2014 proxy season.  According to the article, Corp Fin received […]