The U.S. Chamber of Commerce and the Business Roundtable filed suit against the Securities and Exchange Commission on Wednesday, objecting to new proxy access rules for nominating corporate directors. The groups assert that the rules impose unjustified costs and empower unions and other special interest shareholders at the expense of regular investors. The petitioners have asked the SEC to stay the Nov. 15 effective date of the rules pending conclusion of the litigation.
September 30, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The U.S. Chamber of Commerce and the Business Roundtable filed suit against the Securities and Exchange Commission Wednesday, objecting to new proxy access rules for nominating corporate directors.
The groups assert that that the rules impose unjustified costs and empower unions and other special interest shareholders at the expense of regular investors.
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