Coop Board Endorsing Candidates?
I live in a . . . troubled coop in PLG. After being a thorn in the side of the management company and (to a lesser degree) the president of the board for the last few months, I’ve decided to run for the board.
We just got our proxy statement, and for the first time that I can remember, the coop board has endorsed a set of candidates. Unsurprisingly, they endorse all the incumbents.
My question is this: is it legal for a coop board to endorse itself on a proxy statement?
They also put stars next to all the incumbents’ names.
Just to give you a flavor of the coop and willingness to do illegal behavior, it’s holding its annual meeting two months after the date specified in the bylaws.
May 21, 2012 | 02:16 PM