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July 22, 2011
Earlier today the U.S. Court of Appeals for the D.C. Circuit struck down the SEC’s highly controversial proxy access rule, holding that the SEC acted “arbitrarily and capriciously” in adopting the rule by not properly evaluating the impact on companies and failed to provide sufficient data showing how the rule would improve board performance and increase shareholder value through the election of dissident nominees. For more information, read the client alert.
Client Alert
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