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U.S. court rules in favor of Chevron, says Ecuadorean judgment result of fraud
trueAn $18 billion judgment against Chevron Corp. in Ecuador over remediation for environmental damage was the result of fraud and is unenforceable in the U.S., according to a ruling released Tuesday by the U.S. District Court in New York.
Class actions at risk in Supreme Court challenge
trueInstitutional investors are holding their collective breath as the Supreme Court considers making it harder to bring class-action securities lawsuits.
Connecticut, New York pension funds target Alliant for gun-control proxy proposal
trueAlliant Techsystems Inc. shareholders will face a joint proxy proposal from the Connecticut Retirement Plans & Trust Funds and New York State Common Retirement Fund calling on the company to address “public safety issues arising from the misuse of firearms and ammunition that poses risk to investor ...
Institutions target lobbying disclosure, raising Trayvon Martin case
trueFifty-seven pension funds and other institutional investors targeted 48 companies for shareholder proposals calling for disclosure of lobbying payments.
Icahn fills SEC filing with tweets
trueCarl C. Icahn has simplified SEC filings, communicating solely in the sparse style of tweets and retweets, at least in his recent contentions over Apple Inc.'s corporate strategy.
Ceres: Institutional investors pushing 10 companies to assess carbon risks
trueInstitutional investors have filed shareholder proposals at 10 companies, asking them to assess carbon-related risk to their capital expenditure and other business operations, according to a statement Wednesday by Ceres, a group of institutional investors encouraging companies to address climate ...
Ceres: SEC needs to better enforce climate change disclosure requirements
trueThe Securities and Exchange Commission “is not adequately enforcing” compliance of its requirements for corporations to disclose climate change financial risks, according to a new report by Ceres.
Better way to elect directors
trueIf proxy voting is the principal way shareholders influence corporate governance and the direction of corporations, the rules of the Securities and Exchange Commission fall short in enabling shareholders in contested elections to select the combination of nominees they believe will best foster ...
Surge in shareholder activism straining investors' resources
trueThe proxy season has triggered a gold rush of activist institutional investors challenging companies. But this swell in corporate governance activity could strain investors' resources, especially related to executive pay issues and shareholder engagements.
Oklahoma Firefighters sues Bob Evans directors over bylaw-vote change
trueOklahoma Firefighters Pension and Retirement System, Oklahoma City, sued Bob Evans Farms Inc. directors claiming the board improperly stripped investors of their rights to use a majority vote to amend the restaurant chain's bylaws.
Arbitration threatens to wipe out shareholder rights
trueA new movement would push companies to adopt provisions that could limit shareholders' ability to protect and enforce their rights in courtrooms across the country.
ISBI seeks proxy-voting, ESG advisory services
trueIllinois State Board of Investment, Chicago, issued an RFP for proxy-voting and ESG advisory services.
trueA recent paper says shareholders should be concerned when management teams adopt poison pills in response to hedge fund activism.
Institutional investors believe CEOs are overpaid — survey
trueSome 72% of institutional investors believe the U.S. executive pay model has led to excessive CEO compensation levels, almost four times the 20% of corporate directors holding such a view.
Pension funds to give executive pay at Aberdeen Asset Management a thumb's down
trueAberdeen Asset Management faces opposition to ratification of its executive remuneration report and policy at its annual meeting from the Florida State Board of Administration and Ontario Teachers' Pension Plan.