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Shareholders slam Facebook over 'incongruent' PAC contributions on gay rights, online piracy

Zach Miners | April 9, 2014
Contributions have gone to politicians who have opposed gay rights issues, shareholders say

Facebook shareholders also noted in the filing that the company's PAC contributions have gone to politicians voting to deregulate greenhouse gases and who have voted against the American Clean Energy and Security Act of 2009.

In sum, shareholders feel that "the consequences of unintended incongruent contributions include alienation of customer base, alienation of advertisers, harm to company name, and potential harm to shareholder value," Tuesday's filing said.

Facebook's contributions, the shareholders claim, undermine the company's business interests and public policy stances, thus putting shareholder value at risk.

 

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