Sprint approves shareholder-called meetings

AP News
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Posted: Nov 12, 2009 2:59 PM

Sprint Nextel officials will now allow large shareholders to call special meetings of investors.

The wireless company, based in Overland Park, Kan., says its board of directors adopted the change to its bylaws. The proposal was requested during Sprint's annual shareholder meeting in May. The change was supported by 77 percent of shares voted.

Under the new rule, shareholders holding at least 10 percent of shares can request the special meetings under certain circumstances. The request also must meet certain requirements, such as the timing of similar issues or meetings already scheduled.