S.E.C. Sued Over Shareholder Rule - NYTimes.com

S.E.C. Sued Over Shareholder Rule - NYTimes.com:The SEC is being sued by two groups to block this. "The S.E.C., in a 3-2 vote, stipulated that investors or groups of shareholders who have owned 3 percent of a company for three years could have candidates on proxy statements. Under the regulation, shareholders would be able to nominate at least one director and as much as 25 percent of a board. "