Monday, 18 July 2011

USA: the return of the Shareholder Protection Act

The Shareholder Protection Act (H.R. 2517) was reintroduced in the House of Representatives last week: see here or here (pdf). The principal purpose of the Act is to amend the Securities and Exchange Act (1934) in order to require shareholder authorisation before a public companies is able to make certain forms of political expenditure. Should shareholders have such a role? See the discussion here (Professor Bebchuck) and here (Professor Bainbridge).

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