Hewlett-Packard investors voted down a proposal from labor funds that would have made it easier and cheaper for shareholders to nominate alternative directors. But the measure still received significant support. Bryan Cave partner Brendan Johnson said it's possible that the strong support could pressure HP to voluntarily include the measure or a variation. But he added that HP would likely wait until the SEC clarifies rules on whether investors may nominate candidates on corporate ballots.
March 16, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Hewlett-Packard Co. investors voted against a proposal from labor funds that would have made it easier and cheaper for shareholders to nominate alternative directors. But the measure still received significant support.
The American Federation of State, County and Municipal Employees and three pension plan funds filed a proposal for investors to consider that would require HP to change its bylaws.
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