A group of “concerned” Coca-Cola shareholders have sent a letter to the beverage corporation, alleging a recent policy aimed at diversity would actually require law firms that represent the company to violate anti-discrimination law.
The letter notes that Coca-Cola’s policy “of contracting, refusing to contract, and altering the terms of signed contracts on the basis of the race of Coke’s counterparties, the [directors] have exposed Coke and its shareholders to material risk of liability” for potentially violating anti-discrimination laws.
The Stockholders therefore demand that you immediately publicly retract the Policies in their entirety. If we do not receive a response to these demands within 30 business days, we will understand. . .Coke. . .to have refused to address these matters themselves. At that point, the Stockholders will be forced to seek judicial relief to protect Coke and the Stockholders’ interests in the company from your continued breaches of your fiduciary duties.I hope that after you have reviewed this letter, you will be in touch to inform us of how Coke will comply with these demands.