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Law Firms Submit Joint Letter To SEC To Oppose Shareholder Nominations To Corporate Boards
Law Firm News/New York |
2009/08/19 09:11
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According to The New York Law Journal, seven of Manhattan's elite law firms took the rare step of signing on to a single letter to the Securities and Exchange Commission to voice their opinion on how the agency should implement a proposal to allow shareholders to nominate company directors.
Lawyers involved in drafting the letter, submitted Monday, acknowledge it was rare for one letter to come from all the firms, which included Cravath, Swaine & Moore, Sullivan & Cromwell and Wachtell, Lipton, Rosen & Katz.
At least four of the firms also sent separate letters addressing concerns with the policy direction the SEC is taking. |
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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