U.S. PIRG’s Lisa Gilbert discusses shareholder protection in this Wonk Room post.
Shareholder approval is a reform angle which could begin to dig us out of Alice’s rabbit hole and protect our democracy. Justice Kennedy himself wrote, “shareholder objections raised through the procedures of corporate democracy, can be more effective today because modern technology makes disclosures rapid and informative.”
The Shareholder Protection Act (H.R. 4790), introduced by Rep. Mike Capuano (D-MA), would require 51 percent of shareholders to sign off on corporate political spending; we urge Congress to include this bill in the upcoming leadership reform package expected to introduced after recess.
Still no further word on when the “leadership reform package” might publicly emerge.