Section: March 23, 2023 | Vol. 28, Issue 11
Nomination Bylaw Watch: Legion Partners Files Suit After Primo Water Declares Board Candidates Invalid
A suit filed March 22 by Legion Partners, a California-based activist investment manager against Tampa-based, Ontario-incorporated Primo Water alleges that its nominees were unduly rejected and accuses Primo of using its recently amended nomination bylaws against investors.
In Joint Letter, CII Urges SEC to Drop No-Action Relief for SIFMA to Unbundle Research Costs
CII sent a joint letter with the CFA Institute and the Healthy Markets Association (HMA) March 23 asking SEC Chair Gary Gensler to allow the temporary no-action relief granted to the Securities Industry and Financial Markets Association (SIFMA) to expire so institutional investors would be able to purchase research separately from services tied to trading securities.
Biden Vetoes Bill Overturning DOL Rules Allowing Consideration of ESG in Investing, Proxy Voting
President Joe Biden March 20 vetoed a bill that would rescind the Department of Labor’s (DOL) final rule that allows private-sector retirement plan fiduciaries to consider climate change and other environmental, social and governance factors when they select retirement investments and vote proxies.