SEC: Meta Corporation must let shareholders vote on its 'metaverse strategy' proposal

The U.S. Securities and Exchange Commission (SEC) has ruled that $Meta Platforms(FB.US)$ , the parent company of Facebook and Instagram, must give investors the opportunity to consider and vote on whether to adopt a "metaverse strategy." In December, Meta investors submitted a shareholder proposal that seeks to ask the companv to assess the need to run "emerainc technologies like Metaverse with a full understanding or potential risks and negative impacts" and seeks comment on the proposal. vote. However. Meta has been trina to position the
Metaverse project as "ordinary business" and exclude the proposal from voting, and has also tried to use the SECs no action process to prevent voting on the proposal. But now the SEC has ruled that Meta's Metaverse project has gone bevond "ordinarv business " so the requlators start said It dsagrees with the proposal to be excluded from the ballot "(Forbes)