Discover the coalition of shareholder activist groups advocating for enhanced human capital disclosures, the rationale behind the call for transparency, and the potential benefits of a more accountable corporate world.
NEW YORK, NY — Nathan Cummings Foundation (NCF) announced earlier this week that it has filed a lawsuit against Axon Enterprise, Inc. (AXON) in the U.S. District Court for the District of Columbia. The suit seeks to prevent AXON from excluding NCF’s shareholder proposal requesting greater transparency around the Company’s political spending. This filing by […]
Corporate Political Accountability Corporate Political Spending Litigation Shareholder Rights and SEC Policy
As many of us are aware, in late 2025 the SEC’s Division of Corporate Finance announced it was withdrawing from its role of providing staff guidance for companies seeking relief from a potential SEC enforcement action. For decades, companies sought that relief by filing a “No Action” letter with the staff, and asking for assurance […]
Shareholder Rights and SEC Policy
The recent announcement by the SECʼs Division of Corporation Finance that its staff will not, during the 2026 proxy season, “… respond to no-action requests related to any basis for exclusion other than 14a-8(i)(1)” leaves both companies and investors in uncertain, uncharted waters. The lack of staff input deprives companies and proponents of an orderly […]
Shareholder Rights and SEC Policy
Late last week, the SECʼs Division of Corporation Finance updated its Compliance and Disclosure Interpretations to advise that, going forward, the staff will object to using the SECʼs EDGAR filing platform to file Rule 14a-2(b) Notices of Exempt Solicitation by any shareholder holding less than $5 million in shares of the company to which the […]
Shareholder Rights and SEC Policy
The recent announcement by the SECʼs Division of Corporation Finance that its staff will not, during the 2026 proxy season, “… respond to no-action requests related to any basis for exclusion other than 14a-8(i)(1)” leaves both companies and investors in uncertain, uncharted waters. The lack of staff input deprives companies and proponents of an orderly […]
Shareholder Rights and SEC Policy
Authors Sehr Khaliq is the Director of Program Evaluation, and Timothy Smith is the Senior Policy Advisor at the Interfaith Center on Corporate Responsibility (ICCR). This post is based on their ICCR report. New York City Comptroller Brad Lander[i] recently urged three of the city’s pension funds to drop BlackRock, Fidelity, and PanAgora because of “inadequate” […]
Climate Change and Environmental Justice Shareholder Rights and SEC Policy
On January 7, 2026, ICCR filed a Motion for Summary Judgment in its challenge against Texas statute SB 2337. ICCR’s suit, filed in federal court in November 2025 and joined by United Church Funds and Ceres, focused on a newly-adopted law that imposes unprecedented and burdensome unconstitutional obligations on ICCR and similarly-situated organizations. ICCR’s argument […]
Litigation Shareholder Rights and SEC Policy
The SEC’s recent announcement that the agency will be stepping back from responding to most No Action requests by companies this year is disturbing and disappointing. SEC leadership appears to be using the excuse of the government shutdown to give companies an open invitation to exclude any or all shareholder proposals from their proxies for […]
Shareholder Rights and SEC Policy
