The SEC has a reputation of enforcing regulations against two-bit players in the financial arena while tiptoeing around the big boys. Back in December, Apache Corp. (APA) announced plans to flaunt US securities laws. The Commission’s response has been three months of unbroken silence. Apache’s CEO, Stephen Farris, is somewhat of a crusader against Rule […]
Tag Archives | Apache vs. Chevedden
SEC: Time To Remove the Gag
James McRitchie, 02/09/2011 ,
When corporations go to court to challenge a shareowner’s right to submit a proposal for inclusion in the firm’s proxy materials, it is up to the court to interpret applicable SEC rules. You would think the SEC would help the court by clarifying its position on the issues. Instead, the SEC says and does nothing. […]
New Standards For Documenting Eligibility to Submit Shareowner Proposals
James McRitchie, 11/11/2010 ,
Today, the United States Proxy Exchange issued standards for documenting eligibility to submit shareowner proposals. Submitting shareowner proposals is a primary means by which shareowners influence the corporations they own. The process is governed by SEC Rule 14a-8. One provision of that rule—Rule 14a-8(b)(2)—specifies how sharewners prove they own shares in a corporation for the purpose […]
USPX to File Amicus Curiae Brief in Apache vs. Chevedden
James McRitchie, 02/23/2010 ,
Yesterday, Judge Lee Rosenthal of the Federal District Court in Houston issued an order (ApacheOrder) granting the United States Proxy Exchange (USPX) leave to file an amicus curiae (friend of the court) brief in Apache vs. Chevedden. The USPX had petitioned the court for leave on February 16, stating in part: Amicus curiae filings are […]