Shareholder E-Forums Could Alter Proxy Landscape

Law360, New York (October 27, 2009, 4:06 PM EDT) -- Companies have been slow to adopt shareholder e-forums, citing concerns ranging from disclosure issues to costs to dealing with chat room bullies. But it appears electronic shareholder communication is here to stay, and direct shareholder electronic voting may not be far behind, attorneys say.

Two rules changes adopted by the U.S. Securities and Exchange Commission in November 2007 — new Rule 14a-17 and amended Rule 14a-2 of the Securities Exchange Act of 1934 — removed concerns that statements made by a company in an e-forum would...
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