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Would a reasonable shareholder "consider it important"?
This focus on catering to activists has resulted in overlooking the importance of reasonable shareholder power.
"There is an issue as to whether this would be material to a reasonable shareholder," he said.
And by 'germane' we mean, for present purposes, information such as a reasonable shareholder would consider important in deciding whether to sell or retain stock.
That standard indicates that "'[a]n omitted fact is material if there is a substantial likelihood that a reasonable shareholder would consider it important in deciding how to vote.'" Id., at 231, 108 S.Ct.
"By addressing the quality of a particular management practice, a defendant declares the subject of its representation to be material to the reasonable shareholder, and thus is bound to speak truthfully".
Similar(52)
Since companies incur costs for having the shareholders identified, it is reasonable if shareholders making use of lists cover part of the actual costs for identification.
It is reasonable for shareholders to oppose re-election of directors who have persistently failed to respond to their feedback after efforts to engage constructively.
Perhaps Mr Brown thinks—and it is a reasonable guess that shareholders and private pensioners, who tend to be closer to the top of the income distribution than to the bottom, will pay most of the price.
It is my understanding that prior to this transaction, it was understood that the law of Canada governing board fiduciary duties in a change of control situation was similar to Revlon, a duty to obtain the highest price reasonable for shareholders available in a change of control setting.
"It is reasonable for shareholders to seek to restrain pernicious lobbying by energy companies, but the other two requests essentially call on them to stop being energy companies". .
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com