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NEWS from the Office of the New York State Comptroller
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NYS Comptroller DiNapoli: SEC Upholds Shareholders' Right to Seek Racial Equity Audit

Company Had Attempted to Block ​Shareholders Vote on NY State Pension Fund’s Proposal
April 7, 2021

New York State Comptroller Thomas P. DiNapoli made the following statement today in response to the U.S. Securities and Exchange Commission Staff's determination that it was unable to agree with Amazon Inc.’s request to keep the New York State Common Retirement Fund’s shareholder proposal off the ballot at its annual shareholders’ meeting. DiNapoli had announced the shareholder proposal in December.

“This is a victory for the many shareholders who are concerned about racial inequity in corporate America. Companies like Amazon need to show they are doing more than just talking the talk when it comes to taking a stand against systemic racism. An independent examination of just how Amazon is addressing racial injustice in its workplace, in the wages it pays and in the products it sells, will help ensure the company is confronting institutionalized inequality and the impact on its business.”