Case Updates
Outcome
September 13, 2010
The Second Circuit remanded the lawsuit in light of amendments made to SEC Rule 14a-8 after the district court dismissed the case in 2008.
U.S. Chamber files amicus brief considering SEC proxy rules
April 22, 2009
NCLC urged the Second Circuit to affirm the dismissal of a lawsuit considering whether the defendant must include in its proxy materials a proposal to amend bylaws that, if adopted, would have allowed other shareholders to bypass the proxy rules established by the Securities and Exchange Commission (SEC). The plaintiff, Lucian Bebchuk, is a university professor known for his radical theories on corporate governance.
NCLC also filed a brief with the U.S. District Court for the Southern District of New York urging dismissal of the lawsuit.