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SEC Takes Away Shareholders Right To Nominate Corporate Directors – 11/29/07

Posted on November 28, 2007 | in Labor News | by

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.

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