• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises

2

Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that

3

Nearly 50,000 Lake Tahoe residents have to find a new power source after their energy source looks to redirect lines to data centers

1

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises

2

Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that

3

Nearly 50,000 Lake Tahoe residents have to find a new power source after their energy source looks to redirect lines to data centers
Tech

Facebook Gets Pressure From Institutional Shareholders to Fix Fake News

By
Mathew Ingram
Mathew Ingram
Down Arrow Button Icon
By
Mathew Ingram
Mathew Ingram
Down Arrow Button Icon
June 1, 2017, 10:53 AM ET

Media companies and politicians aren’t the only ones who think Facebook needs to stop fake news from proliferating on the social network. Two institutional investors are also pressuring the company to do something to fix the problem.

Arjuna Capital and Baldwin Brothers are jointly presenting a proposal at Facebook’s annual shareholder meeting Thursday that asks the company to take decisive action to inhibit fake news, and would require Facebook to be transparent about how it is doing so.

The two investors plan to present a similar proposal at the annual meeting next week of shareholders in Alphabet, Google’s parent company.

“Fake news is not about spin or confirmation bias—It’s about fabrication,” Arjuna managing director Natasha Lamb said in a statement. “And when fabrication is disseminated so easily at scale, the way we have seen through social media, it represents a threat to our democracy.”

The resolution would require Facebook to “provide detailed information regarding the impact of current fake news flows and management systems on the democratic process, free speech, and a cohesive society.” It would also require the company to quantify the “reputational and operational risks from potential public policy developments” related to fake news.

Arjuna Capital is an investment firm focused on sustainable and impact investing. It and Baldwin hold a small number of Facebook shares, but are hoping to influence larger shareholders to put pressure on the company.

The two have made similar efforts related to pay equity at several of the major technology companies, including Alphabet and eBay.

Get Data Sheet, Fortune’s technology newsletter.

The chances of the proposal getting enough votes to pass are tiny because CEO Mark Zuckerberg controls a majority of the votes by virtue of owning multiple-voting shares. But the firms are hoping the company will take action anyway if enough individual shareholders raise the issue.

“If Facebook maintains a platform of confusion and distortion it will lose the trust of its users, in which case they will simply move on to the next thing, and that’s what concerns long-term investors,” said Lamb. “Right now, we think the issue is being fumbled.”

Michael Frerichs, the treasurer for the state of Illinois—which is an investor in Facebook—is also supporting the Arjuna and Baldwin proposal.

“We need Internet platforms to step up and acknowledge their corporate responsibilities,” Frerichs said in a statement. “With more and more citizens being subjected to systematic deception and manipulation online, the proliferation of fake news represents a major threat to our democratic institutions.”

Facebook’s role in distributing fake news, hoaxes, and misinformation has been criticized by media analysts as well as political entities like the European Union, who have pressured the company to do more to solve the problem. On Wednesday, former Secretary of State Hillary Clinton blamed Facebook for the role that fake news played in her failed presidential campaign.

Zuckerberg initially dismissed the idea that fake news was a significant problem, or that Facebook had any responsibility to eradicate it, but more recently the company has taken steps to try and halt the spread of hoaxes and misinformation.

Facebook has partnered with a number of third-party fact-checking organizations to flag fake news on the network, and has also tried to remove some of the financial incentives for publishing such content by banning certain sites from using its ad services.

The company has advised shareholders to vote against the Arjuna and Baldwin Brothers proposal.

About the Author
By Mathew Ingram
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

America’s productivity boom started before AI, and a Stanford economist who decoded the Great Resignation says working from home is the reason why
Future of Workremote work
America’s productivity boom started before AI, and a Stanford economist who decoded the Great Resignation says working from home is the reason why
By Marco Quiroz-GutierrezMay 15, 2026
2 hours ago
A man stands looking out over his front porch where a sign reads, "No data centers."
EnvironmentData centers
Startups are installing tiny data centers in people’s homes to reduce strain on the beleaguered electrical grid
By Sasha RogelbergMay 15, 2026
2 hours ago
US hedge fund manager Bill Ackman, CEO of Pershing Square Capital Management, speaks during the 29th annual Milken Institute Global Conference at the Beverly Hilton in Beverly Hills, California on May 4, 2026.
InvestingMicrosoft
Bill Ackman has been quietly buying Microsoft since February, when AI fears were dragging the stock
By Eva RoytburgMay 15, 2026
7 hours ago
leo
EuropeReligion
Pope Leo warns of ‘spiral of annihilation’ as AI warfare leads to symphony of destruction
By Nicole Winfield, Paolo Santalucia and The Associated PressMay 15, 2026
8 hours ago
Americans would rather live near a nuclear power plant than a data center—by a lot
AIData centers
Americans would rather live near a nuclear power plant than a data center—by a lot
By Catherina GioinoMay 15, 2026
8 hours ago
Cisco’s AI orders forecast just hit $9 billion—and the stock surged
AICFO Daily
Cisco’s AI orders forecast just hit $9 billion—and the stock surged
By Sheryl EstradaMay 15, 2026
9 hours ago

Most Popular

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
3 days ago
Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that
Success
Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that
By Preston ForeMay 13, 2026
2 days ago
Nearly 50,000 Lake Tahoe residents have to find a new power source after their energy source looks to redirect lines to data centers
Travel & Leisure
Nearly 50,000 Lake Tahoe residents have to find a new power source after their energy source looks to redirect lines to data centers
By Catherina GioinoMay 12, 2026
3 days ago
Current price of oil as of May 14, 2026
Personal Finance
Current price of oil as of May 14, 2026
By Joseph HostetlerMay 14, 2026
1 day ago
The airplane fuel shortage is a myth propagated by airlines who want to cancel unprofitable flights, says private jet CEO
Energy
The airplane fuel shortage is a myth propagated by airlines who want to cancel unprofitable flights, says private jet CEO
By Jim EdwardsMay 14, 2026
2 days ago
Steve Jobs used a 'beer test' for interviews at Apple—if he didn’t want to drink with you, you didn’t get the job
Success
Steve Jobs used a 'beer test' for interviews at Apple—if he didn’t want to drink with you, you didn’t get the job
By Orianna Rosa RoyleMay 14, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.