Financial Times FT.com

Union in legal threat over proxy access

By Kate Burgess in London

Published: November 29 2007 01:13 | Last updated: November 29 2007 01:13

The US’s largest public sector union is threatening legal action to win the right to nominate directors of US companies.

The move comes after the Securities and Exchange Commission voted on Wednesday to reinstate rules allowing US companies to block shareholders from putting forward their own candidates on US boards.

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