PepsiCo Animal Welfare Proxy Suit Halted After Company Relents

A PepsiCo Inc. shareholder’s suit to circulate an animal welfare proxy proposal is “discontinued” until the investor drops the suit as expected, a federal judge said Wednesday.

Judge Nelson S. Román of the US District Court for the Southern District of New York ordered the discontinuance of the action in response to a Feb. 23 letter from Kerry Masters’ counsel. That letter explained the company reversed course and would allow voting on Masters’ shareholder proposal for a report on the compliance of PepsiCo’s suppliers with respect to the company’s policies and local animal welfare laws.

People for the Ethical Treatment ...