UANI to Ingersoll Rand: Business in Iran is Material and Irresponsible
FOR IMMEDIATE RELEASE
March 4, 2010
Contact: Kimmie Lipscomb, [email protected]
Phone: (212) 554-3296
UANI
to Ingersoll Rand: Business in Iran is Material
and Irresponsible
New York, NY - United Against Nuclear Iran
(UANI) today responded to Ingersoll Rand's public statements regarding
its
business in Iran.
Ingersoll Rand, in public
statements, attempted to defend its deliberate decision to conduct
business in
Iran, claiming that its business in Iran is small, not material, and
technically legal.
In a letter to Ingersoll Rand CEO Michael Lamach, UANI President,
Ambassador Mark D. Wallace, wrote:
Under the U.S. securities laws, information is considered "material" and therefore must be disclosed if an investor would consider it important in making an investment decision. Given that major U.S. investors, including state pension funds, have been divesting their portfolios of companies that do business with Iran, your position that your Iranian business is "not material" is not supportable.
****
****
****
Click here to read UANI's
letter to Ingersoll Rand dated March 4, 2010.
Click here to read UANI's
letter to Ingersoll Rand dated March 2, 2010.
Click here to call on Ingersoll
Rand to end its business in Iran.
# # #
Receive Iran News in Your Inbox.
Eye on Iran is a news summary from United Against Nuclear Iran (UANI), a section 501(c)(3) organization. Eye on Iran is available to subscribers on a daily basis or weekly basis.