Shareholders Down But Not Out In 'Too Big To Fail' Fight

Law360, New York (March 14, 2013, 8:36 PM EDT) -- Shareholders lost a battle Tuesday after the U.S. Securities and Exchange Commission said major financial institutions are not obligated right now to hold shareholder votes over whether they are too big, but with Congress and growing public sentiment on the investors' side, they may yet win the war, experts say.

JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc and Morgan Stanley dodged a small bullet Tuesday when the SEC said they did not have to hold shareholder votes to consider whether certain “extraordinary transactions”...
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