A.J. Kess and Yafit Cohn Co-Author Article in Law360 on Shareholder Proposal Rule
08.10.15
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Corporate Partner A.J. Kess and Corporate Associate Yafit Cohn published an article in Law360, “Is America’s Competitive Advantage Worth More Than $2,000?” The article discusses the need for the SEC to conduct a comprehensive review of its shareholder proposal rule, which currently allows any shareholder owning only $2,000 in a company’s stock for one year to include a proposal in the company’s proxy statement to be voted on at the company’s annual meeting. A.J. and Yafit argue that the rule, as currently structured, is not only a significant financial drain on U.S. companies, but may also contribute over time to a short-term focus by corporate management, which could severely undermine U.S. companies’ long-term ability to thrive in the global market and consequently, destroy U.S. jobs.
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