November 20, 2008
Thursday
     

SEC Green Lights an Unprecedented Shareholder Proposal

Date: 02-18-2008
Type: activism
Categories: Finance / Socially Responsible Investing
Source: Investors Against Genocide

Shareholders of Fidelity’s Contra Fund will have the opportunity to vote on a shareholder proposal which asks the mutual fund giant to ensure that its investments are genocide-free.

Thanks to a recent decision by the Securities and Exchange Commission (SEC) denying Fidelity’s “no-action” request, Fidelity will not be able to block consideration by its shareholders. Fidelity’s filing with the SEC indicates its plans to hold a shareholder meeting for its Contra Fund on March 19, 2008. The shareholder proposal for genocide-free investing has been filed with 28 of Fidelity’s mutual funds and with 30 other funds from Barclays, Franklin Templeton, T. Rowe Price, and Vanguard.

Organization:
Investors Against Genocide
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