H.R. 4487 · 111th Congress
End the Hijacking of Shareholder Funds Act
- Stage
- In committee
- Sponsor
- Alan Grayson
- 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.