NEW YORK, September 18, 2019 – Cornerstone Capital Group (“Cornerstone”), an SEC-registered investment advisor helping investors achieve both their financial and societal objectives without sacrificing investment performance, today announced that it has signed the US Forum for Sustainable and Responsible Investment’s (US SIF) letter to the Securities and Exchange Commission (SEC) to prevent a proposed rulemaking that will likely weaken shareholders’ rights.
The SEC plans to amend Rule 14(a)(8) of the 1934 Securities Exchange Act, which provides shareholders who own a certain amount of the company’s securites with an opportunity to place proposals in a company’s proxy materials for a vote at an annual or special shareholder meetings. The SEC’s proposed rulemaking seeks to increase the ownership thresholds necessary for shareholders to file a proposal, weakening shareholder’s rights.
“Cornerstone is proud to join the US Forum for Sustainable and Responsible Investment in defending shareholders’ rights,” said Erika Karp, Founder and CEO of Cornerstone Capital Group. “This issue is important to Cornerstone because we consider shareholder engagement to be a key strategy for investors to influence change within a company and to hold companies accountable for the impacts of their activities.”
For additional information on this issue, please visit the Investor Rights Forum at https://www.investorrightsforum.com.