of securities class action suits decreases loan spreads. The effect is stronger for firms with higher institutional … ownership, which is consistent with the argument that class actions suits help shareholders extract wealth from creditors when …

We challenge the common law rule that shareholders can generally vote as they please, even if their intent or the … property rights and shareholders can bind themselves to vote as they please – are unpersuasive. We then argue that (1) the … general meeting is the company’s agent; (2) shareholders are generally not personally liable for the consequences of the …

Nothing in either corporate or securities law requires companies to notify investors what they will be voting on before … shareholder votes, investors cannot find out what they will be voting on before the record date. This poses an especially serious … problem for investors who engage in securities lending: they must decide whether the expected benefit of voting exceeds the …