Bloomberg Law
July 14, 2021, 2:32 PM

Activist Shareholders Score Wins on Election Spending After Riot

Andrew Ramonas
Andrew Ramonas
Corporate Disclosure Reporter
Lydia Beyoud
Lydia Beyoud
Corporate Governance Reporter

Duke Energy Corp.'s investors seemed content with what the company said about the money it spent on federal elections—until rioters stormed the U.S. Capitol this year.

The utility’s investors twice voted down New York State Comptroller Thomas DiNapoli’s proposals to expand the company’s political spending disclosures with details on payments made to third-party groups for elections. Investor support for the shareholder proposals was less than 40% in both 2019 and 2020.

That was before the Jan. 6 Capitol riot put a spotlight on corporate money in politics, with Duke Energy and scores of other companies pledging to pause political contributions ...

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