Duane Morris·SECURITIES / CAPITAL MARKETS

Companies Can Bypass SEC, Seek Federal Court Exclusion of Shareholder Proposals

Federal courts have affirmed companies may use declaratory judgment actions to exclude shareholder proposals based on ownership proof deficiencies, providing an alternative to SEC no-action letters.

shareholder-proposalssec-no-action-letterdeclaratory-judgmentrule-14a-8proxy-materialskbr-v-cheveddenproof-ownership

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