US firms unite to oppose shareholder nominations to corporate boards
Seven elite US law firms have come together to lobby the Securities and Exchange Commission (SEC) on how the agency should implement a proposal to allow shareholders to nominate company directors. Lawyers involved in drafting the letter acknowledge it was rare for one letter to come from all the firms, which included Cravath Swaine & Moore, Sullivan & Cromwell and Wachtell Lipton Rosen & Katz. At least four of the firms also sent separate letters addressing concerns with the policy direction the SEC is taking.
Seven elite US law firms have come together to lobby the Securities and Exchange Commission (SEC) on how the agency should implement a proposal to allow shareholders to nominate company directors.
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