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The environmental votes referred to mostly involved shareholder resolutions aimed at forcing companies to adopt Ceres, a set of environmental standards.
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But despite the astronomical sums involved, shareholders who bought during the dotcom boom will still be nursing a loss.
Mergers and acquisitions through share exchanges that involve shareholders in the United States will face similar delays, he said.
The court's five Chancery Court judges are really the best in the country at adjudicating corporate law disputes involving shareholders.
But since Sinclair's decision to use the documentary became public, the company has been caught in a hornet's nest of protest involving shareholders, advertisers and consumer interest groups vowing to contest the company's license renewals with the Federal Communications Commission.
Western companies typically involve shareholders, who demand transparency when it comes to costs.
This monster, which involves shareholders' paying executives' taxes, evolved from a 1984 congressional bid to penalize "excessive" golden parachutes by slapping on an excise tax when they exceed three times average annual wages.
That case involved a shareholder lawsuit asserting that National Australia Bank had made false statements about problems at its American mortgage subsidiary.
Four years ago, Navalny took the fateful step of getting involved in shareholder activism – using small stakes in murky companies to force them to open up their accounts.
One reason is that a mutual fund or pension plan that becomes involved in shareholder issues bears the full cost of its activism (in battles with C.E.O.s and directors, who can spend vast amounts of their shareholders' equity in defending themselves), yet it stands to reap only a fraction of any increase in market capitalization that results from its efforts.
Icahn suggested at the conference last week that mutual funds are still too reluctant to get involved in shareholder activism, but he sees the ice melting a little.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com