I suspect you're getting fooled by terminology. When you see "rules protecting shareholder rights" when you should be reading in this context is "rules invitin

I suspect you're getting fooled by terminology. When you see "rules protecting shareholder rights" when you should be reading in this context is "rules inviting massive lawsuits from plaintiff attornies nominally representing super minority shareholders against the express will of the supermajority of shareholders and causing significant legal expenses to companies (and thus their shareholders)". With that re-framing perhaps its more clear why savvy shareholders are not very interested in this form of "shareholder rights".