Investor Group Says SEC Rule Change Would Hobble Rights

Law360 (October 28, 2019, 6:56 PM EDT) -- A group of investors said Monday that they reached out to the U.S. Securities and Exchange Commission last week opposing new rules that they claim would impact retail investors and their ability to voice concerns over corporate issues such as climate change.

The letter issued by the Shareholder Rights Group on Friday said that changes to the 14a-8 proposal process would impede shareholder rights, noting that the changes "could inappropriately silence retail investors by rigging the rules against them." The letter notes that a vote is expected Nov. 5.

While the exact rules have yet to be seen, the SEC is...

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