ICCR Files Amicus Brief in NAM/NCPPR Lawsuit Against the SEC
On September 21, ICCR submitted an Amicus Brief in connection to the lawsuit filed by the National Association of Manufacturers (NAM) and the National Center for Public Policy Research (NCPPR) attempting to undermine the SEC’s authority to adjudicate shareholder proposals. In its intervention in NCPPR’s suit, NAM argued the SEC does not have the authority to be involved in “No Action” decisions when companies seek to omit shareholder proposals from their proxy statements. ICCR’s amicus brief argues the SEC does have that authority and details ways in which the shareholder resolution process has value for both companies and investors. The case is being argued at the 5th Circuit. This action follows a series of letters sent by Ceres and ICCR to nearly 50 company board members of NAM expressing profound concern with NAM’s intervention in the NCPPR lawsuit. You can download a copy of the brief below.
