BOSTON Verizon Communications Inc (VZ.N) shareholders said on Tuesday they have withdrawn a resolution asking the company to disclose details of customer information that it shares with law enforcement, saying the company had already met key requests.
Jonas Kron, senior vice president of resolution sponsor Trillium Asset Management, said the filers withdrew the measure after the company disclosed more details this month of its information-sharing with government agencies.
"Publication of these reports makes strong business sense and will facilitate the critical and long-term conversation about government surveillance programs that is so desperately needed," Kron said in an e-mailed statement.
Trillium and other activist shareholders had filed the shareholder measures in November at Verizon and rival AT&T Inc (T.N) amid concerns that close ties between the companies and government surveillance operations could compromise customer trust.
A Verizon report published earlier this month does much to address those concerns, Kron said. The report disclosed Verizon received about 320,000 requests for customer information from federal, state and local law enforcement agencies in the U.S. in 2013.
Kron also noted a decision by the Obama administration on Monday to allow U.S. companies to disclose more details about court orders they receive related to surveillance.
AT&T has promised to publish a similar report. Kron said the shareholders are still seeking for AT&T to offer a vote on the resolution at its annual meeting this spring.