Majority Action And ICCR Respond To Sturm Ruger’s Annual Meeting

Majority Action And ICCR Respond To Sturm Ruger’s Annual Meeting
Skitterphoto / Pixabay

WASHINGTON — Eli Kasargod-Staub, executive director of Majority Action, a nonprofit organization that empowers shareholders to hold corporations accountable to high standards of corporate governance, social responsibility, and long-term value creation, and Josh Zinner, CEO of the Interfaith Center on Corporate Responsibility (ICCR), released the following statement in response to Sturm Ruger & Company Inc (NYSE:RGR)’s annual general meeting today in which shareholders asked the company to reverse its policy of refusing to meet with investors.

“We are hopeful that Sturm Ruger will swiftly drop its policy of refusing to engage with investors and immediately pursue meaningful and productive dialogue with shareholders concerned about the risks to public safety. Sturm Ruger can and should meet with concerned investors to pursue opportunities to improve public safety and shareholder value, while effectively managing the reputation and financial risks to long-term investors presented by gun violence.”


Benjamin Graham GEICO Buy Was Just A Simple Value Play

Was Ben Graham's big purchase of GEICO shares actually a value investment? Perhaps it was contrary to what many believe. "In 1948, we made our GEICO investment and from then on, we seemed to be very brilliant people." -- Benjamin Graham, 1976 Both Benjamin Graham and Warren Buffett can attribute a large part of their Read More

Q1 hedge fund letters, conference, scoops etc

Majority Action and ICCR filed an investor advisory calling for shareholders to vote against two board directors, including board chair Michael Jacobi, due to their dissatisfaction with the gun manufacturer’s report in response to a 2018 shareholder resolution filed by an ICCR member calling for a report on its efforts to promote gun safety.

ISS, the largest US proxy voting advisor, also recommended that shareholders vote against three leading members of the Ruger board citing the company’s failure to  adequately respond to the gun safety resolution. The resolution received over 68% support from voting shareholders, including its largest investors, BlackRock and Vanguard.

Shareholders representing ICCR attended Ruger’s meeting, asking the board to drop its policy of refusing to meet with shareholders directly, even the company’s largest shareholders, BlackRock and Vanguard. The board acknowledged some outreach to large investors prior to its annual meeting and indicated that the company is seriously investigating amending this policy going forward. Investors are hopeful they will be able to schedule a dialogue with the company in the coming months.

Majority Action is a nonprofit organization dedicated to empowering shareholders of all sizes to hold corporations and their leadership accountable to high standards of long-term value creation, corporate governance, and social responsibility.

Interfaith Center on Corporate Responsibility (ICCR)

Celebrating its 49th year, ICCR is the pioneer coalition of shareholder advocates who view the management of their investments as a catalyst for social change. Its 300 member organizations comprise faith communities, socially responsible asset managers, unions, pensions, NGOs and other socially responsible investors with combined assets of over $400 billion. ICCR members engage hundreds of corporations annually in an effort to foster greater corporate accountability.

Previous article Why We’re Ditching The WeWork IPO (And What We’re Looking At Instead)
Next article Pakistan allows import of only five mobile phones per year
Jacob Wolinsky is the founder of, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at) - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

No posts to display