A coalition of corporate governance law firms has leant its support to the SEC’s proposal to improve shareholder rights, according to Global Pensions. The nine firms, all based in Manhattan, want the SEC to go forward with its plans to fortify shareholder rights, including measures that would grant proxy access and require greater disclosure for director nominees. The SEC’s proposal, Facilitating Shareholder Director Nominations, closed its comment period on August 17. Said one attorney of the need for proxy access, “It is the lack of accountability under the current rules that has promoted the very abuses in risk management and excessive executive compensation that we are paying for today.” The law firms that have shown their support are: Barroway Topaz; Kessler, Meltzer and Check; Berman De Valerio; Bernstein Litowitz Berger and Grossman LLP; Cohen Milstein, Grant and Eisenhofer P.A; Kaplan Fox; Labaton Sucharow LLP; Milberg LLP; and Pomerantz Haudek Grossman and Gross LLP.
Law Firms Want SEC to Improve Shareholder Rights
The SEC’s proposal for improved proxy access has won the support of nine Manhattan law firms.
August 28, 2009