Major firms sign letter to SEC opposing shareholder rights proposal

Seven major US law firm signed to a letter to the Securities and Exchange Commission (SEC) expressing their opinion on how to best implement a proposal to allow shareholders to nominate company directors. The unusual letter was backed by Cravath, Swaine & Moore; Sullivan & Cromwell; Wachtell, Lipton, Rosen & Katz; Davis Polk & Wardwell; Latham & Watkins; Skadden, Arps, Slate, Meagher & Flom; and Simpson Thacher & Bartlett.

Major firms sign letter to SEC opposing shareholder rights proposal amlawdaily.typepad.com amlawdaily.typepad.com Thu, Aug 20, 2009