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Our Securities Group discusses how the Securities and Exchange Commission’s proposed changes to Rule 14a-8 would restrict companies’ ability to rely on the rule to exclude shareholder...
The Securities and Exchange Commission recently revisited two proxy-related matters by (a) adopting amendments to the proxy rules governing proxy voting advice and (b) proposing...
Over the better part of two decades, the SEC has been narrowing the bases for excluding shareholder proposals, resulting in greater access to proxy statements for shareholders to force...
<p><span>Shareholder proposals represent a key mechanism for shareholders to engage with management, put issues of importance on the proxy ballot, and generally enhance oversight and accountability. Through this process, shareholders have introduced significant improvements in corporate governance including majority vote rules for the election of directors, elimination of staggered board terms, limits on poison pills that serve to entrench management, and requirements for independent board chairs. Indeed shareholder proposals have often been a catalyst for pivotal corporate governa...
Business rescue finalised: SAA cleared for take-off South African Airways’ business rescue process has finally ended, with the rescue practitioners wrapping up their efforts and filing an implementation notice with authorities. South African Airways (SAA), which was placed into business rescue in December 2019, is now back in the hands of its own management team since business rescue practitioners Leslie Matuson and Siviwe Dongwana terminated the airline’s drawn-out rescue process by filing SAA’s Notice of Substantial Implementation with the Companies and Intellectual Property Commissio...