Banks, J&J Ask Shareholders to Vote Against Racial Audits
- JPMorgan and Amazon have gone to regulators to block proposals
- Companies say they are already addressing racial inequities
Photographer: Andrew Harrer/Bloomberg
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Almost a year after corporate America announced bold steps to address racial inequities, numerous companies are pushing back against investor requests to conduct sweeping racial audits of their businesses.
Goldman Sachs Group Inc. joined a growing list of companies, including Citigroup Inc. and Johnson & Johnson, that want shareholders to vote against the proposed audits because they say they’re already doing what’s requested in the resolutions, according to filings. JPMorgan Chase & Co. and Citigroup went as far as to ask regulators to block the proposals. The U.S. Securities and Exchange Commission denied their requests. It has yet to decide on an appeal from Amazon.com Inc.