H.R. 4487 · 111th Congress

End the Hijacking of Shareholder Funds Act

Stage
In committee
Introduced
2010-01-21
Latest action
2010-01-21 · Introduced in House

Summary

End the Hijacking of Shareholder Funds Act - Deems expenditure to influence public opinion by the officers and directors of a public company on matters not related to company products or services to be a breach of fiduciary duty if such expenditure has not been approved by a prior majority shareholder vote.

Subjects such officers and directors to joint and several liability to any shareholder or class of shareholders for the amount of such an expenditure.