Marriott International, Inc.
S.E.C. No-Action Letter
2002 WL 571758 (2002)
Relevant factsFree
Marriott International wrote to the SEC seeking permission to leave out of its 2002 proxy materials a shareholder proposal asking it to form an independent committee to study the risk to shareholders of owning two hotels in Burma, a country cited for human rights abuses including forced labor camps. Marriott had acquired the Burma hotels as part of its acquisition of the Renaissance Hotel chain's common stock.
IssueFree
Whether a company may omit from its proxy materials a shareholder proposal relating to company operations that account for less than five percent of the company's total assets.