Is the Securities and Exchange Commission trampling academic freedom?

As it turns out, not at all:

Thus, the salient point is that the proposal appears in the proxy only because the Harvard SRP voluntarily decides to avail itself of an SEC rule that forces the company to put the statement on the company’s proxy. In order to benefit from this rule, the proponent has to agree to abide by SEC rules that prohibit proposals from making statements that suffer from material omissions. The Harvard SRP can write or say whatever it wants without any of the concerns raised in the paper, provided that those statements don’t appear in Rule 14a-8 proposals. But, once the statements are submitted as a Rule 14a-8 proposal, they have to abide by the same rules as any other 14a-8 proposal.

http://marginalrevolution.com/marginalrevolution/2014/12/joseph-grundfest-responds-on-the-sec-bebchuk-and-academic-freedom.html

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