Activist investors to pressure privately held Palantir on human rights
SAN FRANCISCO (Reuters) - A group advocating ethical investing will ask backers of tech analytics company Palantir Technologies to push for changes to its business practices, a rare case of coordinated shareholder action against a privately held company. The Investor Alliance for Human Rights, which claims more than 150 institutional members representing $4 trillion in managed assets, faults Palantir for contracts with government agencies including U.S. Immigration and Customs Enforcement. “The relative impunity of private companies heightens the risks of human rights impacts, increasing the need for private equity investors to push those companies through other means to respect human rights,” said alliance Director Paloma Munoz Quick. Kate Elliot, senior ethical researcher at London-based Rathbone Greenbank Investments, an Alliance supporter, said she would raise human rights with Rathbone portfolio company RELX, formerly Reed Elsevier, which has a venture investment in Palantir.
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