The Case For 'Client-Directed Voting'

Law360, New York (January 4, 2010, 11:55 AM EST) -- Each year, investors in public companies have a right to vote their shares on proposals offered by those companies’ boards of directors. In some cases, too, proposals are submitted by other shareholders for consideration.

A typical board-sponsored proposal seeks support for nominees to serve on the board of directors for the following year. A typical shareholder proposal might seek a change in the way the company is governed, such as a mandate to separate the roles of the chairman and CEO.

Unlike institutional investors such as...
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