Reuters scoops competition with news of SEC`s board director rule

Reuters was first with the news on Aug 24 that the U.S. Securities and Exchange Commission was considering giving small companies a break from plans to make companies more accountable to their shareholders. The SEC`s plan would make it easier for disgruntled shareholders to oust and replace directors at thousands of publicly traded companies in the United States. Obtaining the information from a source, Reuters reported that some 5,000 small companies would get three years to comply with the new rule. CNBC, Fox Business and Yahoo picked up the Reuters story. The Wall Street Journal and Bloomberg only reported the news when the SEC officially adopted the rule one day later.