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: SEC adopts rule giving activist investors more power in board elections

The Securities and Exchange Commission approved a new rule Wednesday that could give activist investors more ammunition in their fights with corporate executives over who gets to sit on company boards. The commission voted 4-1 to adopt the rule.

Many shareholders of public companies vote on board elections through a proxy so that they don’t have to attend a corporate annual meeting in person, but doing so has previously limited their ability to vote on who should sit on a corporate board in most cases.

Prior…

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