Smith Anderson (North Carolina): SEC Provides Limited Relief from Proxy Material Mailing Requirements

FIRST PUBLISHED ON 04.16.2020 – As discussed in our previous alert, Annual Meetings in a World Without Meetings: The Impact of COVID-19 on Public Companies, on March 13, 2020, the Staff of the Division of Corporation Finance of the Securities and Exchange Commission (SEC) issued guidance permitting public companies that have already filed and mailed their definitive proxy materials to change the date, time and location of their meetings without mailing additional soliciting materials to shareholders so long as they (i) issue a press release announcing such change, (ii) file the announcement as definitive additional soliciting material on EDGAR and (iii) take all reasonable steps necessary to inform intermediaries in the proxy process and other relevant market participants (including the appropriate national securities exchanges) of the change. MORE.

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