Putting the Pieces Together

This is a quick follow-up to our post from earlier today, in which we noted the “unusual” and “surprising” delay of the publication of new SEC proxy access rules in the Federal Register.  That delay is all the more interesting in the context of something mentioned, in passing, in a newly published Milbank Tweed client alert memo (and in other sources as well).  The memo notes that “two of the five SEC Commissioners dissented from adoption of the new rules, leading many experts to predict that litigation challenging the new rules will ensue . . . .”

The Milbank memo doesn’t connect that observation with the Federal Register delay.  But the convergence of these two facts does raise questions.  Again, we are left wondering if there might be a story here waiting to be told.