NorthStar Files Rebuttal to Facebook proxy
June 7, 2016
FOR IMMEDIATE RELEASE
NorthStar Asset Management Files Exempt Solicitation Against Facebook Proxy Statement
BOSTON, MA – NorthStar Asset Management, Inc., a socially responsible investment firm, filed a rebuttal with the SEC today to respond to Facebook’s opposition statement to a shareholder proposal filed by the NorthStar Asset Management Pension Plan, James McRitchie, and Myra K. Young. Shareholders will vote on this proposal regarding regarding equal shareholder voting on June 20, 2016.
This proposal has been supported by shareholders each year, despite the overwhelming control that Mark Zuckerberg holds due to the unequal voting structure. NorthStar is particularly dismayed this year because Facebook is planning to put in place a third, non-voting class of shares. Regardless of what the vast majority of shareholders desire, Mr. Zuckerberg’s control of the vote will ensure that the new class is put in place, and common shareholder rights will be further diluted.
NorthStar Asset Management, Inc. is a wealth management company based in Boston with a focus on socially responsible investing. At NorthStar, creative shareholder engagement is a positive force for change.
Contact: Julie Goodridge
NorthStar Asset Management, Inc.