Trillium Files Shareholder Resolution with Apple Regarding Privacy Concerns
Trillium Asset Management recently filed a shareholder resolution on behalf of our clients at Apple Inc., regarding privacy concerns.
Apple has confronted a number of cyber-security and privacy controversies including unauthorized access to iPhone users’ address books; Unique Device ID (UDID) related litigation and the release of one million UDIDs and security concerns related to iCloud. The controversies have drawn the attention of the U.S. Congress and the ACLU.
In light of the societal and business risks created by digital technologies and the significant amounts of personal information that are handled by Apple we are concerned future controversies and litigation could place critical growth opportunities, such as iCloud, at risk.
Trillium is concerned that unauthorized collection, disclosure, or misuse of personal information can cause great harm to individuals and society – including discrimination, identity theft, financial loss, loss of business or employment opportunities, humiliation, reputational damage, questionable government surveillance or physical harm.
Trillium’s proposal asks the company publish a report explaining how its Board of Directors is overseeing privacy and data security risks.
The complete resolution and supporting statement can be viewed here.