Huffington Post: Bank of America Targeted By Protesters and Investors
Prior to Bank of America’s annual shareholder meeting, The Huffington Post has been reporting on Trillium’s shareholder resolution that calls on the company to adopt a policy prohibiting the use of corporate funds for any political election or campaign.
“In recent years, significant percentages of shareholders at some large companies have voted to require their firms to provide increased disclosure about the extent of their political donations, although none of these resolutions have passed to date. And Trillium views its more aggressive proposal to get BofA to end all political spending as intimately connected with a campaign pressuring the SEC to require disclosure.
‘For the better part of the last decade, we’ve seen consistent and increasingly strong shareholder votes on political spending proposals,’ said Shelley Alpern, Vice President of Shareholder Advocacy for Trillium. A growing number of investors consider this area to be a material factor in evaluating the financial worth a company and the strength of its governance mechanisms. Investors will be better off when the SEC requires disclosure from all publicly traded companies. Companies deserve a level playing field and investors need the information.”
The entire article can be read here.