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CALIFORNIA CORPORATE & SECURITIES LAW

Shareholder Rights Project Rewrites Website

Last week when I visited the Shareholder Rights Project’s website, I noted that the SRP described itself as “representing and advising five institutional investors, four public pension funds and one foundation”.  Not being sure what this representation and advice might entail, I contacted the Harvard Law School.  I was told that the SRP “did not engage in the practice of law”.

After my post on Monday, I rechecked the SRP’s website and discovered that it has been rewritten.  The statement regarding “representing and advising” has been excised.  I also could no longer find any reference to “clients”.  The website also makes it clear that the board declassification work of the SRP was completed last summer.

The timing of these changes may have been purely coincidental.  However, there may be a lesson here for law students – if you announce that you’re representing and advising others, they may wonder whether you’re engaging in the practice of law.

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