Thirty-Three Declassification Proposals Win Approval with Average Support of 82%

The Harvard Law School Forum on Corporate Governance and Financial Regulation 2012-06-13

Summary:

Editor’s Note: Professor Lucian Bebchuk is the Director of the Shareholder Rights Project (SRP), and Scott Hirst is the SRP’s Associate Director. Any views expressed and positions taken by the SRP and its representatives should be attributed solely to the SRP and not to Harvard Law School or Harvard University.

With the current proxy season moving toward its final stage, this post provides an updated report about the outcome of precatory declassification proposals that investors represented by the Shareholder Rights Project (SRP) submitted to S&P 500 companies. At this stage of the proxy season, thirty-three precatory declassification proposals submitted to S&P 500 companies by SRP-represented investors won approval, with an average support of 82% of votes cast. These results, as well as the proposals still expected to go to a vote at other S&P 500 companies this season, are described further below.

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Link:

http://blogs.law.harvard.edu/corpgov/2012/06/13/thirty-three-declassification-proposals-win-approval-with-average-support-of-82/

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Tags:

corporate elections & voting shareholder proposals program news & events classified boards lucian bebchuk scott hirst shareholder rights project staggered boards precatory proposals

Authors:

Lucian Bebchuk and Scott Hirst, Harvard Law School,

Date tagged:

06/13/2012, 15:02

Date published:

06/13/2012, 09:15