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A new federal approach giving U.S. companies more say over which proposals shareholders can vote on at their annual meetings is creating regulatory uncertainty and leading to litigation, activists said.
This move has been in the works for years. It was probably a decade ago, where I saw data showing a significant increase in management requests to suppress shareholder proposals, claiming they were similar to previous proposals, or frivolous.
As noted before, management seems to, increasingly, regard itself as law unto itself, rather than the employees of the shareholders.
Steve
