SEC Takes Away Shareholders Right To Nominate Corporate Directors – 11/29/07
By Doug Cunningham
A Securities and Exchange Commission ruling Wednesday attacked the rights of shareholders to nominate corporate directors. AFL-CIO President John Sweeney says at a time when the need for strong, independent corporate directors is more critical than ever, the SEC has taken away an important shareholder right to have a voice on corporate governance issues. The SEC, Sweeney says, should be moving aggressively to protect investors, not to take away their rights.