ISS Suit to Scrap Trump-era Proxy Rules Draws Judge’s Skepticism (1)

Institutional Shareholder Services Inc. faced tough questions from a judge about why he still should hear the firm’s case against the SEC over Trump-era proxy advice rules that have been scaled back under the Biden administration.

Judge Amit Mehta of the US District Court for the District of Columbia on Wednesday asked ISS for more information about claims it has unresolved injuries after the Securities and Exchange Commission in 2020 adopted restrictions on the voting advice proxy firms give institutional investors before company annual meetings.

He raised concerns about the case moving forward after the Democratic-led SEC on July 13 ...