Skip to content
Subscriber Only

SEC, Companies Clash in Court on Rule Boosting Investors Powers

A Securities and Exchange Commission rule making it easier for shareholders to oust board members was based on “serious error” in assessing its cost to companies, a lawyer for business groups told a U.S. appeals court.

The U.S. Chamber of Commerce and the Business Roundtable today asked the U.S. Court of Appeals in Washington to overturn the proxy access rule, which was mandated by the Dodd-Frank financial-regulatory overhaul enacted last year.