Dow Cites Bad Info To Quell Nun-Led Shareholders Revolt

"In an effort to ward off a shareholder resolution that sought greater transparency in the company’s handling of dioxin contamination in the Saginaw River watershed, Dow Chemical gave the Securities and Exchange Commission inaccurate information about the state of Michigan’s consumption advisory for walleye downstream from the company’s Midland plant.

In a proxy statement filed with the SEC on March 31, Dow Chemical’s board of directors urged shareholders to vote against the resolution, introduced by the Sisters of Mercy of Detroit, which asked the company to prepare a report on 'the pace and effectiveness of the environmental remediation process being undertaken by Dow in the vicinity of and downstream from its Midland headquarters.'"

Eartha Jane Melzer reports for the Michigan Messenger May 19, 2009.

Source: Michigan Messenger, 05/19/2009