Kbr Inc. v. Chevedden
KBR sought summary judgment to exclude John Chevedden's shareholder proposal from its 2011 proxy materials due to alleged non-compliance with SEC Rule 14a-8(b) regarding proof of stock ownership. Chevedden, in turn, filed several motions challenging venue, personal and subject-matter jurisdiction, and the indispensable party status of the Securities and Exchange Commission (SEC). The court denied all of Chevedden's motions, asserting personal jurisdiction over him under the Securities Exchange Act of 1934 and finding that KBR had standing for a declaratory judgment action. The court also determined that venue was proper in Houston and that the SEC was not an indispensable party. A decision on KBR's summary judgment motion was deferred, pending additional briefing from both parties on recent SEC no-action letters by March 21, 2011.