Walmart Inc. and Paypal Holdings Inc. must give their investors the opportunity to vote on shareholder proposals seeking greater transparency from the companies on diversity and anti-discrimination efforts, the SEC said.
In letters posted late Tuesday, the Securities and Exchange Commission rejected Walmart and Paypal’s requests to cast aside the proxy proposals. Counsel to Walmart and Paypal didn’t immediately respond to requests for comment.
Walmart faces a proposal at its May 31 annual meeting from the Organization United for Respect calling for a third-party, independent racial equity audit of the company’s impact on people of color and Indigenous communities.
The ...
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