Correct me if I'm wrong, but I believe that institutions that want to vote their shares will need to call in those they lent to shorts before the record date.
Given the large short position that CLF stock had on 2/28/14 (i.e. 48M shares or about 6X's the daily volume). Failing to delay the record date would have lead to substantial volatility, probably to the upside.
Market Data 
Markets 
AI
