Public company directors and management are facing increasingly critical scrutiny from institutional investors and other shareholders, activists of every stripe, proxy advisory firms and regulators. To the consternation of many companies, the Chair of the Securities and Exchange Commission (“SEC”) recently announced the Staff’s temporary and targeted withdrawal from the shareholder proposal arena, declining this proxy season to issue no-action letters resolving disagreements between companies and shareholder proponents regarding “proxy access” proposals (among others). Large institutional investors, proxy advisory firms now formulating voting recommendations, and other interested observers are monitoring how companies respond to this and other looming governance challenges, with the verdict likely to be delivered in the relatively near future via the corporate ballot box.
Shareholder Activism, Engagement, Proxy Access and Other Governance Challenges in 2015
SEC Staff Brings Down its Q1 COVID-related Reporting Guidance for Q2: Focus on Liquidity and Capital Resources, CARES Act Assistance, Ability to Continue as a Going Concern and High-Quality Financial Reporting
Copyright © 2020 Weil, Gotshal & Manges LLP, All Rights Reserved. The contents of this website may contain attorney advertising under the laws of various states. Prior results do not guarantee a similar outcome. Weil, Gotshal & Manges LLP is headquartered in New York and has office locations in Beijing, Boston, Dallas, Frankfurt, Hong Kong, Houston, London, Miami, Munich, New York, Paris, Princeton, Shanghai, Silicon Valley, and Washington, D.C.