A sneaky push to tout free markets, back business

Monday, May 13, 2019
 | 
Chris Woodward (OneNewsNow.com)

cash 100-dollar billA conservative activist who often faces off with powerful CEOs at shareholder meetings, and usually gets an icy response, found a more receptive audience last week.

Justin Danhof of the Free Enterprise Institute attended the May 6 meeting of Eli Lilly, where he pushed for its corporate leaders to take a stand for pro-business and free-market principles.

Taking advantage of an obscure SEC rule that a company needs only to accept one shareholder proposal for its proxy statement if it receives two on the same topic, Danhof urged the pharmaceutical company to educate its investors about the benefits of Eli Lilly's memberships in free-market, pro-business organizations.

Danhof

Danhof says his proposal was submitted prior to the submission of liberal proposals seeking the exact opposite.

"At Pfizer, I did the same thing with the same exact scenario and same exact result," he tells OneNewsNow.

Danhof says the SEC rule was written in case two people file a similar proposal, which he calls a "little quirk" in the SEC rules that he "weaponized" last week.

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