Jamie Dimon Says Shareholder Meetings Have Become ‘A Farce’
Companies are averse to initial public offerings also because of regulations that accompany a share sale, says JP Morgan’s Dimon.
(Bloomberg) -- JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the number of U.S. publicly traded companies is dwindling in part because of excessive litigation and “frivolous shareholder meetings.”
“I love my shareholders. I speak to them in various forms all the time,” Dimon said Tuesday at the American Enterprise Institute in Washington. “But the shareholder meeting has become a farce. That’s what it is, we all know that.”
Many companies are averse to initial public offerings also because of regulations that accompany a share sale, Dimon said.
To contact the reporter on this story: Michelle F. Davis in New York at mdavis194@bloomberg.net
To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Dan Reichl, Peter Jeffrey
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