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Walmart Prevails in Bid to Drop Shareholder Proposal on Gun Sales

Joe Mont | April 15, 2015

Walmart will no longer be required to include a controversial shareholder proposal regarding its sale of firearms in its 2015 proxy statement, now that the U.S. Court of Appeals for the Third Circuit has overturned an earlier opinion on the matter.

A November decision by the U.S. District Court for the District of Delaware went against a no-action letter from the Securities and Exchange Commission that sided with Walmart’s exclusion of a shareholder proposal at its 2014 annual meeting. That case involved a battle between the retailer and Trinity Wall Street, an organization associated with New York City’s Trinity Church.

In December 2013, Trinity submitted a proposal aimed at pressuring Walmart’s board of directors to decide whether the company should keep selling guns with...

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