On Sunday, The Wall Street Journal featured Trinity Wall Street in its Law Journal section.
Trinity, as a Wal-Mart shareholder, is seeking to introduce a proposal asking Wal-Mart’s Board of Directors to oversee the development of a policy for the sale of products that are 1) especially dangerous to the public, 2) pose a substantial risk to Wal-Mart’s reputation, and 3) would reasonably be considered offensive to the community and family values that Wal-Mart seeks to associate with its brand, such as guns equipped with high-capacity magazines.
“The gun issue is controversial,” writes the Journal, “But it is the corporate-governance question that has elevated the case from a politicized dispute between the company and a tiny shareholder into one that has drawn widespread attention from prominent law professors and big-business groups.”
In November, a district court ruled that Wal-Mart has to include the proposal in upcoming ballots. Wal-Mart has appealed.
“A three-judge panel in Philadelphia has scheduled an April 8 hearing on Wal-Mart’s appeal,” the Journal explains. “The judges will likely act swiftly. Wal-Mart’s 2015 proxy materials are due to come out by late April, for the annual shareholder meeting in June.”
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