Shareholder Resolutions and IPOs

Posted by Jonas Kron, Trillium Asset Management, LLC., on Saturday, January 5, 2019 Editor's Note: Jonas Kron is Senior Vice President and Director of Shareholder Advocacy at Trillium Asset Management, LLC. This post is based on a Trillium memorandum by Mr. Kron. One of Jay Clayton’s primary objectives as Chairman of the U.S. Securities and Exchange Commission (SEC) is to ensure that every day retail investors—“Mr. and Mrs. 401K”—as he often refers to them, are able to invest in young, innovative companies through the public markets. He, along with his appointed Director of Corporation Finance, Bill Hinman, laments the sharp decline in initial public offerings (IPOs) over the last several decades, and point to that trend as evidence of a lack of opportunities for everyday investors to benefit from investments in growth-stage companies. As a result, Mr. Hinman and Chair Clayton have been examining how the SEC can help to encourage IPOs while…

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