Stefan Mileschin

Must inform investors about NDAs other concealment practices

The US Securities and Exchange Commission have told fruity Cargo Cult Apple to stop messing around, listen to shareholders who want the outfit to stop hiding behind NDA agreements.

Apple’s shareholders wanted Jobs’ Mob to tell them if it was hiding behind non-disclosure agreements and other concealment clauses.

Jobs’ Mob said it didn’t do things like that and shareholders should trust it. It asked the Commission to step in. However, the Commission denied Apple’s bid to exclude a shareholder proposal that would require the company to inform investors about its use of non-disclosure agreements and other concealment clauses.

The move means that Apple will have to face a vote on the proposal at its annual shareholder meeting next year, barring a deal with the activist shareholders. Apple has said its policy is not to use concealment clauses, but former employees dispute that.

In September, investor Nia Impact Capital filed a shareholder proposal calling for Apple's board to prepare a "public report assessing the potential risks to the company associated with its use of concealment clauses in the context of harassment, discrimination and other unlawful acts."

https://fudzilla.com/news/54086-appl...o-shareholders