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Washington, March 11, 2010 – John C. Coffee
, the Adolf A. Berle Professor of Law, said Thursday that Congress should use its power over federal securities laws to require greater transparency over how companies inject themselves into the political process.
In remarks prepared for delivery to a House Financial Service subcommittee, said he favors steps toward greater accountability that include restoring shareholder power to adopt and amend corporate bylaws relating to political activities.
To read the full text of Coffee’s remarks, click here
The Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises is examining corporate governance in the wake of the Citizens United decision by the U.S. Supreme Court that did away with most restrictions on corporate involvement in election campaigns.
A webcast of the hearing can be seen here
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