WASHINGTON (Reuters) - Two traditional retailers and a manufacturer have joined the ranks of hot tech companies like Facebook in the debate over a U.S. securities rule that can forceprivately held companies to disclose finances they'd rather keep secret.
The three companies - Wawa Inc, Wegmans Food Markets Inc, andW.L. Gore & Associates, best known as the maker of GORE-TEX clothing - have formed a loose coalition and retained a former U.S. congressman as their lobbyist.
They are lobbying for legislation that would increase the number of shareholders a company can have before it must make detailed disclosures to the U.S. Securities and Exchange Commission, and exempt employees from that cap.
The three companies - Wawa Inc, Wegmans Food Markets Inc, andW.L. Gore & Associates, best known as the maker of GORE-TEX clothing - have formed a loose coalition and retained a former U.S. congressman as their lobbyist.
They are lobbying for legislation that would increase the number of shareholders a company can have before it must make detailed disclosures to the U.S. Securities and Exchange Commission, and exempt employees from that cap.