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The SEC Says “No” to Shareholder Access (For Now) and “Yes” to Shareholder Forums

November 28, 2007 Full PDF

At today's open meeting, the SEC, in a 3 to 1 split, voted to codify in a revised Rule 14a-8(i)(8) its interpretation that companies may exclude from their proxy materials any shareholder proposal that would result in an immediate election contest or set up a process for future election contests by requiring the inclusion of shareholder nominees in company proxy materials.

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