SEC Proxy Rule Jibes With 1st Amendment: Law Profs

Law360, New York (February 9, 2011, 7:51 PM EST) -- A group of law professors has thrown its weight behind the U.S. Securities and Exchange Commission in a D.C. Circuit case brought by the U.S. Chamber of Commerce and Business Roundtable challenging a new proxy access rule.

The professors, which represent 31 law schools, on Wednesday filed an amicus brief with the U.S. Court of Appeals for the District of Columbia Circuit rejecting the U.S. Chamber’s argument that the rule violates companies’ First Amendment rights.

Securities and Exchange Rule 14a-11, created under the Dodd-Frank Wall Street...
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