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Proxy Firms Don't 'Solicit' Investor Votes, DC Circ. Rules

The outside of a large tan-colored stone building has three large entryways. Above the doors are the words E. BARRETT PRETTYMAN and below that, UNITED STATES COURT HOUSE. Two men enter from the middle entryway.

By Ali Sullivan

A D.C. Circuit panel Tuesday ruled that proxy advisory firms do not "solicit" proxy votes, thus denying a manufacturing industry group's attempt to revive a U.S. Securities and Exchange Commission rule regulating those firms.


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