Scrapped Proxy-Vote Reforms Bring Relief, Confusion

Law360, New York (February 11, 2014, 5:39 PM EST) -- Attorneys generally welcomed Monday's news that a top provider of proxy vote-tallying services had scrapped controversial reforms it revealed last week, but many are still scratching their heads as to how such a stark and potentially damaging policy change landed on the books in the first place.

Broadridge Financial Solutions Inc.'s tweaks would have restricted proxy contest participants' access to complete, real-time vote results. In a framework closely aligned with Canadian rules, the activist and the company would only have been able to see ballots cast...
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