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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.
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.
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 ...
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.
CII urges SEC to allow shareholders to split proxy votes
trueShareholders should have the ability in contested corporate board elections to vote on one ballot for any combination of management and dissident nominees that investors believe will foster long-term shareholder value, according to a Council of Institutional Investors petition Wednesday to the SEC.
We're all activists now: unlocking the stewardship potential of investors
trueThe application of suboptimal governance practices and the inadequate oversight of risk can have a significant toll on shareholder returns. The continued difficulties and challenges faced by a number of banking companies, for example, around the world are a timely reminder to investors of the ...
SEC round table discusses shift in who pays for proxy-voting services
trueMoney managers might need to charge clients for proxy voting to help finance the expense , Michelle Edkins, managing director and global head of corporate governance and responsible investment, BlackRock, said Thursday at the SEC's proxy advisory services round-table webcast.
Canadian pension funds offer proposals on board diversity
trueThe Ontario Teachers' Pension Plan and the British Columbia Investment Management Corp. have made specific proposals to the Ontario Securities Commission on increasing gender diversity among members of corporate boards.
Institutional investors lose board election, executive pay votes at 21st Century Fox
trueTwenty-First Century Fox Inc., shareholders voted with corporate management on all proxy proposals, including electing all 12 directors and ratifying CEO and other top executive compensation as well as defeating a shareholder proposal calling for an independent chairman.
ISS names new marketing chief
trueNancy Adler joined Institutional Shareholder Services as executive director and head of marketing.
Chicago Teachers picks Marco Consulting as proxy-voting adviser
trueChicago Public School Teachers' Pension & Retirement Fund hired Marco Consulting Group to provide proxy-voting advisory services.
NYSTRS searching for proxy-voting firm
trueNew York State Teachers' Retirement System, Albany, is searching for a proxy-voting research and advisory firm.
Swedish AP funds looking for proxy-voting firm
trueSwedish National Pension Funds are searching for a proxy voting firm to provide global voting services.
Timken spinoff based on CalSTRS, Relational plan
trueTimken Co.'s plan announced Thursday to split its businesses into two parts embraces a proposal filed jointly by CalSTRS and Relational Investors that the company vigorously opposed but shareholders voted 53% in the majority to support.