Verizon Communications Inc told activist investors on Wednesday that it might skip a vote on a shareholder proposal that seeks details on the company's cooperation with government surveillance efforts.Verizon's law firm Jones Day said in a Nov. 25 letter that the company would exclude the measure from its 2014 proxy statement unless the activists did more to verify their eligibility to file the proposal.The company's response appears to be more aggressive than the stance AT&T Inc took against a similar proposal, said Jonas Kron, senior vice president for Trillium Asset Management, a co-filer of the measures at both telecommunications companies.Kron said Trillium has provided more detail, but that Verizon's action suggests it will sidestep the usual process in which companies ask the U.S. Securities and Exchange Commission for permission to skip votes on shareholder proposals.
AT&T Inc. (AT&T) is a holding company. AT&T is a provider of telecommunications services in the United States and worldwide. Shares of T fell by 1.31% or $-0.45/share to $33.95. In the past year, the shares have traded as low as $32.76 and as high as $39.00. On average, 23360400 shares of T exchange hands on a given day and today's volume is recorded at 27489484.
Verizon Communications Inc. (Verizon) is a holding company. Shares of VZ fell by 1.14% or $-0.56/share to $48.49. In the past year, the shares have traded as low as $41.50 and as high as $54.31. On average, 13092800 shares of VZ exchange hands on a given day and today's volume is recorded at 16152898.
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