Activists : Orca Home Won’t Go To Shareholders

shamu_Seaworld_2013ORLANDO, Fla. (AP) — Animal rights activists say SeaWorld is thwarting their efforts to put to shareholders a resolution to create a coastal sanctuary for retired orcas.

People for the Ethical Treatment of Animals said Monday that SeaWorld is invoking a Securities and Exchange Commission rule to prevent shareholders from learning about the proposal.

PETA owns a small number of SeaWorld shares.

Under PETA’s proposal, SeaWorld would develop coastal sanctuaries where the company’s orcas could retire.

PETA says SeaWorld seeks to exclude the PETA proposal by sending out proxy materials on April 17, just two days shy of the one-year anniversary of when SeaWorld went public.

A company is allowed to exclude a shareholder-initiated proposal if the shareholder has held stock for less than a year.

SeaWorld says it doesn’t comment on shareholder proposals.

Source: Associated Press