Pressure on Vertex Mounts with Press Coverage of Friends Fiduciary’s Shareholder Resolution

May 1st, 2017

Friends Fiduciary’s shareholder resolution with Vertex Pharmaceuticals received press attention last week, with the Boston Globe’s STAT and the Boston Business Journal covering our request that Vertex Pharmaceuticals disclose its lobbying and political spending policies and practices. As outlined in these articles, Friends Fiduciary is asking Vertex to report how it evaluates its expenditures used for lobbying including payments to trade associations, which is especially important as the company’s spending is significant for its size and poses reputational risk. Friends Fiduciary will be presenting the resolution for a vote at the company’s Annual General Meeting on June 2nd.

Read the STAT article here and the Boston Business Journal article here.