H.R.1116 - End the Hijacking of Shareholder Funds Act113th Congress (2013-2014)
|Sponsor:||Rep. Grayson, Alan [D-FL-9] (Introduced 03/13/2013)|
|Committees:||House - Financial Services|
|Latest Action:||03/13/2013 Referred to the House Committee on Financial Services.|
This bill has the status Introduced
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Summary: H.R.1116 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in House (03/13/2013)
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.