Nearly two dozen state attorneys general signed onto a letter Wednesday demanding major firms that provide voting advice to corporate shareholders stop backing efforts to “debank” conservatives.
Republican Iowa Attorney General Brenna Bird led 22 other state attorneys general in sending a letter to the two companies that control 97 percent of the proxy advisory services market, Institutional Shareholder Service (ISS) and Glass Lewis, whose advice they say shapes “the choices and activity of businesses and ultimately the United States’ and global economy.” The letter warns them against opposing shareholder resolutions to hold financial institutions accountable for restricting services based on clients’ religious and political beliefs, noting that viewpoint discrimination comes with “legal liabilities.”
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