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Toxic Neglect: Mutual Funds Opposing Shareholder Resolutions on Chemicals in Products Ignore Financial Risks to Shareholders
March 15th, 2008
More than three out of four major mutual fund families in the United States -- 40 out of 52 (or 77 percent) -- routinely opposed or abstained from voting on toxic chemical shareholder resolutions in 2006 and 2007, according to a major new report from The Investor Environmental Health Network (IEHN) and The Rose Foundation for Communities and the Environment. The IEHN/Rose report, Mutual Neglect: How the Largest Institutions in the Stock Market Ignore Health Problems and Financial Threats Stemming From Toxic Product Liabilities draws on data from a total of 64 families of mutual funds casting votes in 2006 and 2007 on shareholder resolutions. Only 195 votes were cast in...
Source: Law & Health Weekly (2008-03-15)
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