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New York Pension Fund Exercises Muscle as Qualcomm Shareholder
The New York Times; subscription may be required
Jan. 13, 2013
"[New York State's comptroller, Thomas] DiNapoli sued Qualcomm, a computer chip business, demanding to see the company's internal records on political spending. The suit ... argues that the records are necessary to help Mr. DiNapoli determine whether the state's pension funds are protected. 'Without disclosure, there is no way to know whether corporate funds are being used in ways that go against shareholder interests,' he said. The pension fund owns almost $380 million in Qualcomm stock, and Mr. DiNapoli contends that this should give him a voice in the company's business."
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