S.E.C. No-Action Letter
2002 WL 571758 (2002)
Marriott International, Inc. wrote a letter to the Securities and Exchange Commission, requesting that a shareholder proposal be omitted from Marriott’s 2002 proxy materials. The proposal in question was in regard to a request for the formation of an independent committee to study the risk to shareholders of owning two hotels in Burma. Burma is a country in Southeast Asia that was been found to be engaged in several human rights violations, including the operation of forced labor camps. Marriott acquired its hotels in Burma after acquiring all of the common stock of the Renaissance Hotel chain.
Rule of Law
Holding and Reasoning
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