Citizens Advisers Urges Cintas Corp. to Withdraw Defamation Lawsuit Against Shareholder Advocate; Socially Responsible Investment Firm Warns of Disturbing Precedent.Business Editors/Legal Writers PORTSMOUTH, N.H.--(BUSINESS WIRE)--Feb. 11, 2004 Citizens Advisers today warned that a defamation suit recently filed against a leading shareholder advocate might intimidate in·tim·i·date tr.v. in·tim·i·dat·ed, in·tim·i·dat·ing, in·tim·i·dates 1. To make timid; fill with fear. 2. To coerce or inhibit by or as if by threats. shareholders generally from exercising their First Amendment rights. As reported, the lawsuit filed by Cintas Corp. alleges that Timothy Smith, senior vice president with Walden Asset Management Walden Asset Management(WAM) is the division of Boston Trust and Investment Management Company dedicated to Socially responsible investing (SRI). History WAM was founded in 1975, shortly after the start of the modern SRI movement that was spurred by the Vietnam War. , made defamatory comments at its October 14, 2003 annual meeting as he urged passage of a shareholder resolution calling for the company to assess the efficacy of its code of conduct in preventing sweatshop sweatshop: see sweating system. labor. "This kind of lawsuit risks silencing the voices of shareholder activists across the country who courageously stand up to company management at annual shareholder meetings," said Citizens Advisers director of corporate responsibility Joanne Dowdell. "The concern is that companies under scrutiny may use defamation suits as a tactic to bully shareholders into silence. We urge Cintas to withdraw its lawsuit," said Dowdell. About Citizens Advisers As a leader in socially responsible investing Socially responsible investing describes an investment strategy which combines the intentions to maximize both financial return and social good. In general, socially responsible investors favor corporate practices which are environmentally responsible, support workplace diversity, (SRI), Citizens' mission is to generate superior returns by investing in companies that are fundamentally strong and socially responsible. Citizens offers individual and institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. a wide array of investment options, including domestic and international equity, fixed-income and money market products. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion