Altria Faces Shareholder Vote on Civil Rights After SEC Decision

Tobacco company Altria Group Inc. must give its shareholders the opportunity to vote on a proposal seeking a third-party civil rights audit of the company, the SEC said.

The Securities and Exchange Commission rejected the request by Altria, which owns cigarette maker Philip Morris, to exclude the proposal at its upcoming annual meeting this spring. The proposal, which was submitted by the Sisters of St. Francis of Philadelphia, sought a third-party civil rights equity audit to assess the impact of the company’s policies on people of color and indigenous communities, particularly younger customers.

Altria told the SEC that it ...