SOC in the News July 8, 2022

Activists say Amazon misled shareholders about warehouse working conditions

When the investment firm BlackRock voted against an independent audit of the working conditions at Amazon’s warehouses, it was relying on false and misleading information from the company, one activist group is arguing in a new complaint with the Securities and Exchange Commission.

The Strategic Organizing Center, a coalition of labor unions that has criticized Amazon’s treatment of workers in the past, is accusing Amazon and CEO Andy Jassy of making false and misleading statements about the safety of its warehouses and the injury rates among workers. That’s harmful to shareholders, the group argues, because investors are relying on information that is creating an “illusion” about Amazon’s business model.

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