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Shareholder access was dead.
Rather than let it stand, however, the S.E.C. in July proposed two rules on shareholder access.
Naturally, corporate America takes the opposite view on shareholder access to the proxy.
In principle, shareholder access seems to be an obvious good idea.
During the 2007 proxy season immediately after the appeals court ruling, only three companies received proposals relating to shareholder access.
Fortunately I believe that it is only a matter of time before investors are given the shareholder access they deserve".
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The battle centers on shareholders' access to proxy proposals that are voted on by investors at annual meetings.
Additionally, he said, the courts have granted shareholders access to corporate books and records when an inspection is sought in good faith and to protect the shareholders' investments.
Past efforts by the S.E.C. to guarantee shareholders access to company proxy statements have been challenged over whether the agency had the authority or whether it was primarily a matter of state law.
The investment was led by existing shareholders Access Industries (founded by Russian-American businessman Len Blavatnik, one of the wealthiest persons in the world), with funding also provided by co-shareholders International Investment and Underwriting and Atlantic Bridge.
China Mobiles spokeswoman Rainie Lei said the company has not filedany new applications to issue shares, even though its chairman, Wang Jianzhou, had in the past proclaimed his interest in listing its shares in China to allow domestic shareholders access to its stock.
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