SEC Commissioner In Heated "He Said, She Said" Battle With Yale Professor Over Harvard Shareholder Rights Program

In a growing battle of “he said, she said,” Yale University Professor Jonathan Macey defends Harvard University, calling allegations from Securities and Exchange Commissioner (SEC) Dan Gallagher and Stanford Professor Joseph Grundfest “flip-flops.” Macey defends Harvard Shareholder Rights Program from SEC Commissioner Macey took to the Harvard Law School Forum on Corporate Governance to publicly flog Gallagher in particular, while defending the Harvard Shareholder Rights Program (SRP), which advocates to eliminate staggered board of director terms that impede acquisitions.  A staggered election makes it difficult for an acquiring company to elect enough new board members to immediately force change. Gallagher and Grundfest,…