Getting a letter addressed from a law firm can be cause to cause consternation, but one signed off by nine different law firms can lead to a medical condition. Fortunately the letter sent to Securities and Exchange Commission (SEC) signed by multiple law firms was in support of its proposal to beef up shareholder rights.
Nine major securities and corporate governance law firms signed their support of the SEC initiative in a letter, in light of comments made by certain New York law firms challenging the SEC's proposed rule. The SEC rule, called "Facilitating Shareholder Director Nominations" would require a company to include its shareholders' nominees for director in proxy materials.
It all comes down to accountability.

