The New York City Employee's Retirement System v. Dole Food Company, In
795 F.Supp. 95, appeal dismissed as moot and order vacated, 969 F.2d 1430 (2nd Cir. 1992)
Nature of the Case
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Facts
NYCERS (P) was a public pension fund that owned 164,841 shares of common stock in Dole (D). P decided that a proposal be included in D's proxy statement prior to its annual meeting. D wrote the SEC and stated D's position that P's proxy statement concerned employee benefits, an assertedly ordinary business operation. The SEC responded with a statement that it could exclude pursuant to 14a-8(c)(7) because the proposal directed D to get involved in the political and legislative process. The SEC did not address D's particular reason. The SEC denied review to P and P sued D.
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