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Judge Blocks Law Targeting Proxy Advisors
A federal judge in Kansas has blocked a new state law targeting proxy advisory firms, calling it likely unconstitutional under the First Amendment. The law, Senate Bill 375, would have forced firms like ISS and Glass Lewis to disclose their reasoning when advising shareholders to vote against company management — a move critics say is aimed at curbing ESG investing. Judge Holly Teeter ruled that the law’s selective focus on dissenting advice constitutes speech regulation, effectively halting it before it could take effect. This decision underscores the growing tension between corporate…
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