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SEC Proxy Voting Rule Changes Could Weaken Minority Shareholder Influence

The proxy process sounded an alarm on working conditions in the meatpacking industry.

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On Wednesday, Sept. 16, the SEC was scheduled to hold an open meeting to decide whether to adopt new shareholder resolution filing rules. Late on Tuesday it abruptly, and with no further explanation, postponed the final decision by a week. 

If they pass next Wednesday, these rules would eliminate two of three resolutions aimed at protecting meatpacking workers and that were supported by a majority of minority shareholders.

Jackie Cook does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.