Cooley partner Brad Goldberg was quoted in FT Agenda about the US Securities and Exchange Commission’s (SEC’s) decision to suspend its “no-action” review of shareholder proposal exclusions following government shutdown delays. Goldberg notes that many companies are frustrated by the uncertainty this decision has caused, warning that excluding proposals from proxy statements could invite litigation leading to negative publicity and annual meeting disruptions. To mitigate these risks, he advises companies to add disclosures in proxy statements explaining the process their boards use to review and evaluate shareholder proposals.

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