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Report update: Total ‘failures’ at 13…

Report update: Total 'failures' at 13...Download PDF

To date, 677 Russell 3000 companies have had SOP votes – and over 92% are passing with above 70% support. This week, five more companies announced failures, bringing the total to 13: Mylan, Comstock Resources, Tower Group, Cenveo, and Manitowoc Company. All but Tower Group received shareholder support below 80% support in 2011; our initial take is that shareholders and their advisors did not give the companies significant credit for year-over-year changes.