"When companies go public, when they first invite investors in ... they say: 'I promise you, you will come first. We are here to create shareholder value, and that's why you should trust us,' " said Nell Minow, the vice chair of ValueEdge Advisors, which advises shareholders on corporate governance issues. "For them to say, 'I don't really care about you,' it's basically your (sell) signal. Who's going to make sure my interests as a shareholder are going to be protected?"