This only serves to allow firms to erect effort barriers to keep rent seeking fro their customers. The "gotcha" that the Khan FTC didn't "follow the rules making process" is parallel construction.
We hand out these get-out-of-trouble cards to the type of useless trash that destroy lives (see pollution, workplace safety, dangerous products knowingly misadvertised as healthy, etc), let those disgusting shareholders profit, and then use tax dollars to cover the bill (if anyone does). Now you wan them to have rights on top of the special treatment? How about instead we do something that is sane, something that doesn't make a handful of people extremely powerful, and doesn't make millions of sad, pathetic tools who just want to pretend they matter complicit? How about we say, "Look if you want special protection, you have to follow these rules that limit the damage you do. If you want to do those damaging actions, you can be responsible", and put in a bunch of rules that stop these specially protected investors from profiting off other's suffering.
tl;dr - it's an incredibly stupid and ultimately harmful position that a paper granting special privileges has rights. Corporations are no more entitled to profit than anyone else, privileges should come with responsiblities equal to them.
this is Bad, Actually