Conservative Investor Sues SEC for Blocking Kroger ESG Proposal

The SEC is facing a lawsuit for backing Kroger’s request to block a proxy vote on a conservative shareholder’s anti-discrimination proposal at the grocer’s upcoming annual meeting.

The National Center for Public Policy Research asked the US Court of Appeals for the Fifth Circuit to overturn the Securities and Exchange Commission’s decision on the organization’s environmental, social and governance proposal, according to an April 28 petition. The court has put the SEC’s decision on hold as it reviews the matter.

The center’s proposal would push Kroger Co. to report on any risks from excluding “viewpoint” and “ideology” from its ...