H.R.4487 - End the Hijacking of Shareholder Funds Act111th Congress (2009-2010)
|Sponsor:||Rep. Grayson, Alan [D-FL-8] (Introduced 01/21/2010)|
|Committees:||House - Financial Services|
|Latest Action:||01/21/2010 Referred to the House Committee on Financial Services. (All Actions)|
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Summary: H.R.4487 — 111th Congress (2009-2010)All Information (Except Text)
Introduced in House (01/21/2010)
End the Hijacking of Shareholder Funds Act - Deems expenditure to influence public opinion by the officers and directors of a public company on matters not related to company products or services to be a breach of fiduciary duty if such expenditure has not been approved by a prior majority shareholder vote.
Subjects such officers and directors to joint and several liability to any shareholder or class of shareholders for the amount of such an expenditure.