- A group of New York City and state pension funds owning over $5.3 billion of Amazon.com Inc (NASDAQ:AMZN) stock or ~0.3% of the company's market value urged fellow shareholders to vote against the re-election of two board members, the Wall Street Journal reports.
- New York City's pension fund paired up with New York state's pension fund and the Illinois state treasurer's office to vote against the re-election of Amazon directors Daniel Huttenlocher and Judith McGrath.
- The funds alleged that Amazon's board failed to oversee the health and safety of its workers adequately and check the rate of worker injury and turnover at Amazon workplaces.
- Also Read: Amazon In Trouble Over US Warehouse Safety, Study Finds
- Amazon's directors have repeatedly declined requests to meet and discuss Amazon's treatment of its workers. The groups say they "violate state and federal law and conflict with Amazon's human-rights policy."
- Earlier this month, Amazon's warehouse workers in Staten Island, N.Y., voted to create the tech giant's first union in the U.S.
- In February, Dan Loeb, whose Third Point LLC counts Amazon as one of its most significant holdings, voiced $1 trillion of untapped value in Amazon's stock seeing more value as two separate companies: retail and cloud computing.
- Price Action: AMZN shares closed lower by 3.70% at $2,974.17 on Thursday.
