Section: October 31, 2024| Vol 29, Issue 40
Zombie Directors Linger on Boards After Losing Shareholder Support
Thirty-five uncontested directors at 27 companies failed to win majority support between January and August of this year, and 32 of these directors still haunt the boardrooms of those companies.
Delaware High Court to Decide Whether Reincorporation to Nevada Harms Shareholders
This week the Delaware Supreme Court heard oral arguments in a case involving whether shareholders can seek damages from companies that decide to reincorporate from Delaware, a state with established case law defining shareholders’ rights, to other states where shareholders’ legal standing is less clear.
Group Urges SEC Committee to Defend Shareholder Proposal Process
The Shareholder Rights Group sent the SEC’s Investor Advisory Committee a letter October 24 urging the committee to defend shareholders’ right to file proposals against what the group believes to be “misguided and misleading assaults.”
Microsoft Shareholders Set to Vote on Proposals Addressing Wide Range of Timely Issues
At Microsoft’s December 10 annual meeting, shareholders will vote on novel proposals addressing pressing issues ranging from investments in Bitcoin to the use of advanced technology to help U.S. military operations and to facilitate new oil and gas development.
SEC’s 2025 Examination Priorities Include Long-Standing and Emerging Risks
The SEC’s Division of Examinations published its 2025 examination priorities last week to “inform investors and registrants of potential risks in the U.S. capital markets” and publicize the examination topics that the division plans to focus on in the new fiscal year.