The Shareholder Franchise under Pressure

The Ira M. Millstein Memorial Conference was held on April 17, 2026, at Columbia Law School and brought together leading voices from academia, the judiciary, law, and finance to consider emerging issues in the governance of private and public companies.

This panel explored the growing pressures on the shareholder franchise, focusing on current challenges to shareholder rights, voting power, investor participation, and the balance between managerial authority and shareholder influence in modern corporate governance.

The discussion was moderated by Eric Talley (Marc and Eva Stern Professor of Law and Business and Faculty Co-Director of the Ira M. Millstein Center for Global Markets and Corporate Ownership, Columbia Law School).

Panelists included Jill E. Fisch (Saul A. Fox Distinguished Professor of Business Law, University of Pennsylvania Carey Law School), Erik Gerding (Partner, Freshfields), Scott Grinsell (Global Co-Head of Engagement, Elliott Investment Management), Jeff Mahoney (General Counsel, Council of Institutional Investors), and William Savitt (Partner, Co-Chair of the Executive Committee and Co-Chair of the Litigation Department, Wachtell, Lipton, Rosen & Katz, and Lecturer in Law, Columbia Law School).