A recent Delaware Supreme Court decision has threatened the financial security of American investors – as well as our entire capital market system –by allowing corporate boards of directors to unilaterally eliminate shareholders’ legal rights through bylaw provisions. Since the May 8 decision, swarms of corporations have adopted these immunity-granting provisions, and a new op-ed by The Council of Institutional Investors published in The National Law Journal argues that unless these anti-shareowner provisions are thwarted, corporate accountability could evaporate.
Posted on: Sat, 10 Jan 2015 00:10:12 +0000
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