By Katherine Hamilton
Airbnb was sued by shareholders The Heritage Foundation and American Conservative Values ETF for allegedly excluding their proposals from a filing for its annual shareholder meeting.
The two shareholders filed the lawsuit Friday, alleging Airbnb didn't include their proposals in its definitive proxy statement, which outlines the topics up for vote at shareholder meetings. Airbnb's annual shareholder meeting is scheduled for June 4.
The online lodging platform said Tuesday it had learned of the suit and disagrees with its characterizations and claims. It said it had told the shareholders it does not have a record of receiving the proposals, which is why it was unable to include them in its proxy filing.
The shareholders said in the suit they submitted the proposals in December and received FedEx proof of delivery of their proposals that month. Airbnb has offered to work with the shareholders to make sure their proposals are considered at its next annual shareholder meeting in 2026, it said.
The Heritage Foundation is a conservative public policy institution focused on what it calls traditional American values. It owns 360 shares of Airbnb, which is worth about $47,800 based on Tuesday's closing price, according to the lawsuit.
American Conservative Values ETF describes itself as an exchange-traded fund designed to reflect conservative political values in its investment strategy. It owns 3,479 shares, worth about $452,400.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
June 03, 2025 16:49 ET (20:49 GMT)
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