SEC Increases the Unpredictability of the Shareholder Proposal No-Action Process

Harvard Law School Forum on Corporate Governance

Marc S. Gerber

Partner Marc Gerber and counsel Ryan Adams examine the shareholder proposal no-action process relating to the 2022 proxy season, including the numerous no-action letters that overturned precedent, creating a level of uncertainty that companies will need to factor into their future no-action strategies and engagement with shareholder proponents.