NorthStar Files Rebuttals to FedEx and P&G proxies
August 30, 2016
FOR IMMEDIATE RELEASE
NorthStar Asset Management Files Exempt Solicitations Against FedEx and Procter & Gamble Proxy Statements
BOSTON, MA – NorthStar Asset Management, Inc., a socially responsible investment firm, filed rebuttals this week with the Securities and Exchange Commission (SEC) in response to two opposition statements by FedEx (FDX) and Procter & Gamble (PG) related to shareholder proposals filed by the NorthStar Asset Management Pension Plan. Shareholders will vote on these proposals on September 26, 2016 and October 11, 2016, respectively.
Both of these shareholder proposals ask the companies to consider how anti-LGBT (lesbian, gay, bisexual, transgender) laws such as North Carolina’s HB2 “bathroom bill,” which (among other things) forces transgender individuals to use the bathroom associated with the sex on their birth certificate, could affect company employees as well as shareholder value. NorthStar’s rebuttals point out the serious risks each company may face should it fail to create a response plan to the “hateful rhetoric” of these state laws. When employees and their families cannot live in safety and comfort in their communities, NorthStar points out in its rebuttals, company morale and employee turnover rates may suffer.
NorthStar’s rebuttals can be found on the SEC website:
- FedEx rebuttal: https://www.sec.gov/Archives/edgar/data/869304/000121465916013278/d816160px14a6g.htm
- P&G rebuttal: https://www.sec.gov/Archives/edgar/data/80424/000121465916013443/d829162px14a6g.htm
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.