ALBANY, N.Y. (AP) — New York state Comptroller Thomas DiNapoli is urging insurance giant Aetna Inc. to publicly disclose all its direct and indirect spending on politics and lobbying, filing a shareholder resolution as trustee of the state workers' retirement fund.
The Common Retirement Fund owns more than 1.4 million Aetna shares worth about $66 million. A coalition of some other shareholders, including F&C Management Ltd., UAW Retiree Medical Benefits Trust and the Unitarian Universalist Association, also filed a similar resolution this month.
"The company has engaged in controversial political giving that has harmed its reputation and potentially hurt shareholder value," DiNapoli said Thursday. "Full disclosure of Aetna's political donations made with shareholder money is the only rational way for shareholders to assess the risks that funding partisan political donations poses to the bottom line."
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