{"id":5599,"date":"2016-03-18T15:04:00","date_gmt":"2016-03-18T19:04:00","guid":{"rendered":"https:\/\/www.merkley.senate.gov\/these-senators-want-to-reign-in-activist-investors\/"},"modified":"2023-07-24T11:09:42","modified_gmt":"2023-07-24T15:09:42","slug":"these-senators-want-to-reign-in-activist-investors","status":"publish","type":"post","link":"https:\/\/www.merkley.senate.gov\/es\/these-senators-want-to-reign-in-activist-investors\/","title":{"rendered":"These Senators Want to Reign in Activist Investors"},"content":{"rendered":"<p>As shareholder activism reaches unprecedented levels<\/p>\n<p>Democrats are taking aim at a new Wall Street target&mdash;activist investors.<\/p>\n<p>A new bill sponsored by two Senate Democrats, which would tighten disclosure rules for activists, comes at a time when shareholder activism is at an all-time high. The proposed legislation, sponsored by Wisconsin Sen. Tammy Baldwin and Oregon Sen. Jeff Merkley, criticizes the growing trend for prioritizing short-term gains for shareholders over other stakeholders, like employees and communities.<\/p>\n<p><a href=\"https:\/\/blogs.thomsonreuters.com\/answerson\/shareholder-activism-campaigns-2015-smash-prior-record\/\">According to Reuters<\/a>, activist shareholders mounted 507 campaigns to intervene in companies&rsquo; operations in 2015&mdash;a 74% increase from the previous year.<\/p>\n<p>Currently, shareholders are given a window of ten days to disclose when their stake in a company reaches 5%. The bill would reduce that window to 2 days.<\/p>\n<p>The bill, called the Brokaw Act, is named after a Wisconsin town that felt the brunt of an activist campaign by New York-based activist fund Starboard Value. A battle between Wasau Paper Company and the fund&nbsp;<a href=\"https:\/\/www.bostonglobe.com\/news\/nation\/2015\/08\/15\/the-rise-activist-investing-felt-century-old-company\/TgtMxLrZGbuUyWSsgFtCEP\/story.html\">resulted in the closing of a factory<\/a>&nbsp;in Brokaw and the financial collapse of the town.<\/p>\n<p>&ldquo;We cannot allow our economy to be hijacked by a small group of investors who seek only to enrich themselves at the expense of workers, taxpayers and communities,&rdquo; Sen. Baldwin said in a&nbsp;<a href=\"https:\/\/www.baldwin.senate.gov\/press-releases\/brokaw-act\">declaraci\u00f3n<\/a>. &ldquo;These reforms will help ensure that no other small towns in America will fall victim to activist hedge funds on Wall Street.&rdquo;<\/p>\n<p>As shareholder activism has gained momentum in the past few years, so has criticism of the strategy for potentially deleterious effects on the long-term health of companies. Democratic presidential candidate hopeful Sen. Bernie Sanders and Massachusetts Sen. Elizabeth Warren are also co-sponsoring the bill.<\/p>","protected":false},"excerpt":{"rendered":"<p>As shareholder activism reaches unprecedented levels Democrats are taking aim at a new Wall Street target&mdash;activist investors. A new bill sponsored by two Senate Democrats, which would tighten disclosure rules for activists, comes at a time when shareholder activism is at an all-time high. The proposed legislation, sponsored by Wisconsin Sen. Tammy Baldwin and Oregon [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[47],"class_list":["post-5599","post","type-post","status-publish","format-standard","hentry","category-in-the-news","tag-protecting-consumers-taxpayers-and-the-economy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>These Senators Want to Reign in Activist Investors - Merkley<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.merkley.senate.gov\/es\/these-senators-want-to-reign-in-activist-investors\/\" \/>\n<meta property=\"og:locale\" content=\"es_MX\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"These Senators Want to Reign in Activist Investors - Merkley\" \/>\n<meta property=\"og:description\" content=\"As shareholder activism reaches unprecedented levels Democrats are taking aim at a new Wall Street target&mdash;activist investors. 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