And often it seems like these firms care more about pushing a social and environmental agenda on public companies than doing what is best for their shareholders. In fact, Proxy advisor firms have no legal obligation to act in the best interest of their shareholders, despite having enormous sway. I'm going to start with Mr. Copeland. How does this lack of a fiduciary duty for proxy advisory firms impact the quality and the objectivity of Their recommendations? (02:12–02:20)
CLAIM
Asserts that proxy advisor firms lack a legal obligation to act in shareholders' best interests.
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