On Nov. 28, the U.S. Securities and Exchange Commission adopted an amendment to Rule 14a-8(i)(8) that effectively denies shareholders access to the director-nomination process. This amendment allows a company to omit from its proxy material any proposal that relates to a nomination or an election for membership on a company's board of directors or a procedure for such nominations or elections.
Why Did SEC Deny Proxy Access to Shareholders on Election Procedures?
The Legal Intelligencer
December 12, 2007
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