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Activist manager sells Cisco shares on rights concerns

Activist investor Boston Common Asset Management LLC said that it has sold most of the 167,000 shares it held in Cisco Systems Inc, capping a lengthy dispute with the company over its human rights record. Cisco is among a number of technology companies that have tangled with human rights groups in recent years over sales to governments in China and elsewhere.  Microsoft Corp and Yahoo Inc are among the others; activists say the companies’ software and hardware have been used to clamp down on electronic speech and dissidents’ communications. Boston Common, which has about $1.4 billion under management, has long campaigned to get Cisco to monitor more closely the risks these sales posed. In a statement sent late on Tuesday the group said it sold the shares after deciding Cisco was not doing enough to engage with shareholders on the issues. Among other things, Boston Common had sponsored a resolution at Cisco’s annual meeting in November calling on the company to study steps it could take to reduce the likelihood its business practices might lead to violations of rights like freedom of expression and privacy. Cisco opposed the proposal, saying it has already taken similar steps, such as publishing a social responsibility report. More…

News selected by Covalence | Country: USA, China | Company: Cisco | Source: Reuters

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