PepsiCo Investor Sues to Circulate Animal Welfare Proposal (1)

PepsiCo Inc. is improperly planning to exclude a shareholder proposal submitted through the animal welfare group PETA, an investor says in a lawsuit to compel the proposal’s inclusion in voting materials for it upcoming annual meeting.

The proposal asks shareholders to vote for a report by the soft drink and snack food company on suppliers’ compliance with company policies and local laws on animal welfare, shareholder Kerry Masters says. People for the Ethical Treatment of Animals Inc. acted as Masters’ representative in submitting the proposal to PepsiCo, she says.

Masters filed the suit Thursday in the US District Court for ...