JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the number of U.S. publicly traded companies is dwindling in part because of excessive litigation and “frivolous shareholder meetings.”
“I love my shareholders. I speak to them in various forms all the time,” Dimon said Tuesday at the American Enterprise Institute in Washington. “But the shareholder meeting has become a farce. That’s what it is, we all know that.”
Many companies are averse to initial public offerings also because of regulations that accompany a share sale, Dimon said.