Quick Quoted on SEC Access Rules

Foley Partner Patrick Quick was quoted in an article that appeared in The Deal on October 5, 2010 titled “SEC stays proxy rules.” Quick discusses the SEC’s decision to stay its new proxy access rules pending the outcome of a legal challenge filed by the U.S. Chamber of Commerce and the Business Roundtable. Quick states that the benefit of the stay for most companies will be an extra year to prepare for the SEC’s new rules, but expresses concern over whether business groups will be able to overturn the rules on grounds relating to due process and violating the Administrative Procedures Act.