Proxy Solicitation Firms

FOX Business Network’s (FBN) Senior Correspondent Charlie Gasparino reports that the House Financial Services Committee is investigating Proxy Solicitation Firms on whether they are pushing a political agenda rather than serving the shareholder’s interest. Gasparino went on to report that a “hearing by the House Financial Services Committee” begins on Wednesday.

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Excerpts from the report are below.

On the Proxy Solicitation Firms being targeted for investigation by the House Financial Services Committee:

“Now it looks like the Proxy Solicitation Firms are going to be on the hot seat. They are essential the target of an investigation, subcommittee hearing by the House Financial Services Committee that begin on Wednesday, so this going to be pretty interesting guys.  What the subcommittee is going to look at is whether there are political forces driving these guys, so take it for what it’s worth, this thing is really heating up.”

On what the House Financial Services Committee plans to investigate:

“Unions pushing them, political or environmental agenda, that’s essentially what I hear.”