Despite rule changes aimed at facilitating online communication between companies and their shareholders, it seems electronic shareholder forums are an idea whose time hasn’t come, just yet.
The Securities and Exchange Commission adopted amendments to the federal proxy rules last November to facilitate the use of electronic shareholder forums. So far, however, companies have showed little interest in sponsoring such forums.
The SEC adopted new Rule 14a-17 and amended Rule 14a-2 under the Securities Exchange Act of 1934 to remove what it says were two major obstacles to the use of electronic shareholder forums: Concern that statements made by participants in ...