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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Callon Petroleum Company | NYSE:CPE | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 35.76 | 0 | 01:00:00 |
By Tess Stynes
The California Public Employees' Retirement System and the New York City Pension Funds are urging Duke Energy Corp. shareholders to vote against the re-election of four board members.
The funds accuse the four directors of failing to fulfill their duties on a committee charged with overseeing health, safety and environmental compliance.
A Duke Energy spokesman said the company declined to comment.
In a letter to shareholders dated Monday, Calpers and the New York City Comptroller Scott M. Stringer urged holders to vote against the re-election of G. Alex Bernhardt Sr., James B. Hyler Jr., James T. Rhodes and Carlos A. Saladrigas at the company's annual meeting set for May 1.
The move follows a coal-ash spill on the Dan River in North Carolina in February and a legal battle between the company, environmental regulators and the state regarding plans for a cleanup and the safeguarding of other coal-ash sites.
Calpers and the New York City Pension Funds said they are "significant, long-term shareholders in the company."
In the letter, Calpers and the pension funds said the company had prior warning of potential risks "through the work of environmental groups, which reportedly took the company to court on three occasions to clean up similar ash ponds at separate North Carolina plants due to the risks of catastrophe."
The groups also said the four directors are long-standing members of the company's regulatory policy and operations committee and that none of them have "relevant experience in hazardous waste disposal, environmental management and regulatory matters." The groups also claim "no director nominee has coal industry expertise, which is a major concern."
Write to Tess Stynes at tess.stynes@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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