James R. Copland, Director of the Manhattan Institute’s Center for Legal Policy

“Directors and institutional investors need to be cognizant of their fiduciary duties and resist the pressure applied by special-interest investors when such investors advocate for concerns that may not increase expected shareholder returns for all investors…Congress and regulators—including the SEC…need to rethink the degree to which the shareholder-proposal process facilitates market efficiency and capital formation.”

From Corporate Board Member, Shareholder Activism and the 2013 Proxy Season

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