News & Resources

Crawford Quoted in Agenda Regarding Impact of Insufficient Voting Disclosures

March 18, 2016

Aneliya Crawford, partner in the firm’s Activist & Equity Investment Practice Group, was quoted in the article "SEC: Clean Up 'Sloppy' Voting Disclosures,"  published in Agenda (subscription required) on March 17, 2016. The SEC currently states that many proxy statements have “less than ideal” disclosures describing how votes for directors are counted.  The piece explains that boards will need to consider adopting new standards or clarifying the policy language used in proxy statements and ballots. The SEC also indicated that it will continue to examine proxy voting disclosures throughout the remainder of the year. Boards need to verify that director election policies are accurately described in proxy disclosures to ensure that investors aren’t misinformed as to how votes cast for and against and withheld from directors in elections are counted before the 2016 proxy season gets into full swing. To sum up the issue, Aneliya notes that “Providing inadequate disclosure could have a serious impact on the result of an election.”