SEC Denies Amazon’s Appeal to Prevent Shareholder Voting for Racial Equality Audit

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(Reuters)-US securities regulators rejected the exemption sought by Inc on Wednesday, preventing investors from considering shareholder proposals related to racial equality for e-commerce giants.

The Securities and Exchange Commission’s decision followed Amazon’s appeal to prevent non-binding proposals from being voted on at the company’s next annual meeting.

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The proposal was first made by New York Accounting Auditor Thomas Dinapoli in December on behalf of the New York Common Retirement Fund, with the aim of independently auditing the company’s policies and practices regarding civil rights and racism. It was submitted.

“Amazon faces institutionalized inequality and business implications by independently investigating how Amazon deals with racial injustices in the workplace, wages and products it sells. You can see, “says Dinapoli.

Amazon did not immediately respond to the request for comment.

Report by Munsif Vengattil in Bangalore. Edited by Anil D’Silva.


Source: Reuters


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