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Over the past decade, individual investors (usually controlling well-financed hedge funds) have taken minority interest in prominent corporations through the purchase of stock shares and stock options with the intention of influencing the boards of directors to act in ways that challenge the existing corporate strategy. Although they , generally, have not wanted to take over the companies, they have wanted to influence decisions by gaining seats on the boards. One of the most common changes the various activist investors have sought is the dispersal of corporate funds to shareholders through dividends and stock buybacks. Critics have argued that such financial activities are short-run focused and detract from the corporations’ ability to invest in the long-term.
In response to the presence, influence, and success of these activist investors, prominent Senators have introduced legislation, the “Brokaw Act,” in an attempt to limit their power.
5 pages, single-spaced, double spacing between paragraphs, (including the senatorial heading)
Following standard senatorial reporting procedures in APA format (CMS optional)