Shareholder Protection Act Gains Support
Today, R. Warren Langley, Retired President of the Pacific Stock Exchange, sent a letter in support of the Shareholder Protection Act (H.R. 4790) to Speaker of the House Nancy Pelosi. The letter urges the Speaker to champion this legislation as a part of Congress’ response to the Supreme Court’s January 21 decision in Citizens United v. FEC.
Today, R. Warren Langley, Retired President of the Pacific Stock Exchange, sent a letter in support of the Shareholder Protection Act (H.R. 4790) to Speaker of the House Nancy Pelosi. The letter urges the Speaker to champion this legislation as a part of Congress’ response to the Supreme Court’s January 21 decision in Citizens United v. FEC. This decision gave corporations the right to spend corporate dollars in elections. The letter notes that just as proxy rules have been changed to increase transparency on executive pay, so too should there be transparency for corporate political spending. The letter also endorses giving shareholders a way to consent to corporate political spending through a vote at the annual general meeting.