Council of Institutional Investors

News from CII
Thursday, May 7, 2015
by: Rosemary Lally

Section: CII Governance Alert

Letter Urges Swift Passage of Delaware Bill on Fee-Shifting Bylaws
CII sent a letter May 6 to 21 Delaware State Senators urging them to pass promptly a bill (Senate Bill No. 75) invalidating fee-shifting bylaws at Delaware stock corporations. Fee-shifting bylaws require shareholders who sue a company to pay all of that company’s legal costs unless their lawsuit achieves a total victory. CII believes when companies adopt these provisions they stifle shareowners’ ability to seek redress through legitimate lawsuits and to keep corporations accountable to long-term investors. The bylaws continue to gain steam, with 75 U.S. companies adopting them so far, reports Kessler Topaz Meltzer & Check.

Letter Supports NY Bill on Remote Meeting Option
CII sent a letterMay 4 in support of a bill to give New York-incorporated companies permission to offer remote shareholder meeting attendance. The letter reiterates CII’s opposition to “remote-only” meetings, which the bill does not allow.

Teleconference: Request to SEC Regarding Stock Buyback Rules (Regulatory Developments Series)
Thursday, May 14, from 11:30 AM - 12:00 PM ET

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