Fifth Circuit Declines to Review SEC Shareholder Proposal Ruling

The Fifth Circuit has rejected a bid by a self-described conservative think tank to look again at the SEC’s role in settling clashes over which shareholder proposals make it onto company annual meeting ballots, following the court’s decision to back the agency last year.

The US Court of Appeals for the Fifth Circuit declined to review the November ruling by a three-judge panel following a National Center for Public Policy Research request for the full court to rehear the case, according to an order issued Wednesday. The Fifth Circuit said it turned down the group because none of the three ...