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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head><script type="text/javascript" src="https://web-static.archive.org/_static/js/bundle-playback.js?v=7YQSqjSh" charset="utf-8"></script> <script type="text/javascript" src="https://web-static.archive.org/_static/js/wombat.js?v=txqj7nKC" charset="utf-8"></script> <script>window.RufflePlayer=window.RufflePlayer||{};window.RufflePlayer.config={"autoplay":"on","unmuteOverlay":"hidden"};</script> <script type="text/javascript" src="https://web-static.archive.org/_static/js/ruffle/ruffle.js"></script> <script type="text/javascript"> __wm.init("https://web.archive.org/web"); __wm.wombat("http://colorofchange.org/press/releases/2014/5/19/principal-shareholder-meeting/","20140702023035","https://web.archive.org/","web","https://web-static.archive.org/_static/", "1404268235"); </script> <link rel="stylesheet" type="text/css" href="https://web-static.archive.org/_static/css/banner-styles.css?v=p7PEIJWi" /> <link rel="stylesheet" type="text/css" href="https://web-static.archive.org/_static/css/iconochive.css?v=3PDvdIFv" />  <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/> <title>ColorOfChange | ColorOfChange Members Demand Private Prison Divestment as Principal Financial Convenes Annual Shareholder Meeting</title> <link rel="stylesheet" type="text/css" href="/web/20140702023035cs_/http://colorofchange.org/static/css/main.css"/> <meta name="viewport" content="width=device-width, initial-scale=1, maximum-scale=1"> <link rel="shortcut icon" href="/web/20140702023035im_/http://colorofchange.org/favicon.ico" type="image/x-icon"/> <meta property="fb:admins" content="701690"/> <meta property="fb:app_id" content="127053160685288"/> <meta property="og:type" content="article"/> <meta property="article:publisher" content="https://www.facebook.com/colorofchange"/> <meta name="twitter:card" content="summary"> <meta name="twitter:site" content="@colorofchange"> </head> <body> <div id="wrapper" class="red_border"> <div id="header"> <div class="wrapper_inner"> <div class="logo"> <h1><a href="/web/20140702023035/http://colorofchange.org/">ColorOfChange.org changing the color of democracy</a></h1> </div> <nav class="navigator"> <ul id="header-nav" class="list-nav"> <li id="tab_about" class="orange"><a href="/web/20140702023035/http://colorofchange.org/about/">about</a></li> <li id="tab_campaigns" class="red"><a href="/web/20140702023035/http://colorofchange.org/campaigns/">campaigns</a></li> <li id="tab_blog" class="purple"><a href="/web/20140702023035/http://colorofchange.org/blog/">blog</a></li>  <li id="tab_press" class="yellow"><a href="/web/20140702023035/http://colorofchange.org/press/">press</a></li> <li id="tab_donate" class="blue"><a href="/web/20140702023035/http://colorofchange.org/donate/?source=donate_navbar">donate</a></li>  <li id="tab_contact" class="green"><a href="/web/20140702023035/http://colorofchange.org/contact/">contact</a></li> </ul> </nav>  </div> </div> <div class="wrapper_inner"> <div id="content" class="press_page"> <div class="frame_content">  <div class="left_frame"> <div class="title"> <h2> ColorOfChange Members Demand Private Prison Divestment as Principal Financial Convenes Annual Shareholder Meeting</h2> <h3 class="date">May 19, 2014</h3> </div> <div class="press_release_text" style="color: #333;"> <p><p>FOR IMMEDIATE RELEASE</p><br/><p>CONTACT: Brett Abrams : 516-841-1105 : brett@fitzgibbonmedia.com</p><br/><p>New York, NY</p><br/><p>Statement from Rashad Robinson, Executive Director of ColorOfChange.org, the nation's largest online civil rights organization, on Principal Financial's continued investment in for-profit prisons despite growing corporate divestment.</p><br/><p>"Principal Financial's continued support of private prisons is a disgrace. For a company that claims to be "one of the most ethical in the world," Principal's $106 million in private prisons reveals a deep-seeded disregard for ethical and responsible business. Recently, three corporations divested $60 million from for-profit prisons after deciding it was the right thing to do financially and morally. So why does Principal CEO Larry Zimpleman continue to wrongfully claim that divestment is out of reach?</p><br/><p>"The tide is turning against private prisons and Principal owes it to its clients and shareholders to divest. During this year's annual shareholder meeting, ColorOfChange members across the country--many of them Principal clients--will be calling the company and demanding it take action to stop supporting prison profiteers. There is no excuse. CEO Larry Zimpleman has a choice to make: either cut its ties with private prisons, or embrace the torture and prejudice of this industry as The Principal's new public image."</p><br/><p>Nearly 50,000 ColorOfChange members have committed to holding politicians, board members and investors accountable to ending their support of for-profit imprisonment.</p><br/><p>For more information on the campaign see here:</p><br/><p><a href="https://web.archive.org/web/20140702023035/http://colorofchange.org/campaign/end-profit-imprisonment/original_email/" target="blank">http://colorofchange.org/campaign/end-profit-imprisonment/original_email/</a></p><br/><p><a href="https://web.archive.org/web/20140702023035/http://act.colorofchange.org/call/principal_prison/" target="blank">http://act.colorofchange.org/call/principal_prison/</a></p><br/><p>For more information on recent victories please see here:</p><br/><p><a href="https://web.archive.org/web/20140702023035/http://colorofchange.org/press/releases/2014/4/23/major-corporations-divest-nearly-60m-private-priso/" target="blank">http://colorofchange.org/press/releases/2014/4/23/major-corporations-divest-nearly-60m-private-priso/</a></p><br/><p>###</p><br/><p>With more than 900,000 members,ColorOfChange.org is the nation’s largest online civil rights organization.</p></p> </div> </div> <div class="right_frame"> <div class="little_text_block">  <label>Media Contacts</label> <p>For media inquiries, please contact:</p> <p><a class="email" href="https://web.archive.org/web/20140702023035/mailto:media@colorofchange.org">media@colorofchange.org</a></p> </div> </div> </div> </div> </div> <div id="footer"> <div class="wrapper_inner"> <div class="copyright"> <span class="creative_commons">c</span>2005-2013 ColorOfChange.org. <a href="/web/20140702023035/http://colorofchange.org/about/copyright">Some rights reserved</a> </div> <div class="footer_menu"> <ul id="footer-nav" class="list-nav"> <div class="mobile"> <li> <a href="https://web.archive.org/web/20140702023035/http://twitter.com/#!/colorofchange">twitter</a> </li> <li> <a href="https://web.archive.org/web/20140702023035/http://www.facebook.com/colorofchange">facebook</a> </li> </div> <li><a href="/web/20140702023035/http://colorofchange.org/about/privacy/">privacy policy</a></li> <li><a href="/web/20140702023035/http://colorofchange.org/">home</a></li> <li><a href="/web/20140702023035/http://colorofchange.org/contact/">contact us</a></li> <li><a href="/web/20140702023035/http://colorofchange.org/jobs/">jobs</a></li> <li class="last"> <label>follow us:</label> <a href="https://web.archive.org/web/20140702023035/http://twitter.com/#!/colorofchange" target="_blank" class="social_icon twitter">twitter</a> <a href="https://web.archive.org/web/20140702023035/http://www.facebook.com/colorofchange" target="_blank" class="social_icon facebook">facebook</a> </li> <div class="copyright mobile"> <span class="creative_commons">c</span>2005-2012 ColorOfChange.org. <a href="/web/20140702023035/http://colorofchange.org/about/copyright">Some rights reserved</a> </div> </ul> </div> </div> </div> </div> <script src="//web.archive.org/web/20140702023035js_/http://ajax.googleapis.com/ajax/libs/jquery/1.8.0/jquery.min.js"></script> <script src="/web/20140702023035js_/http://colorofchange.org/static/js/jquery-ui.custom.min.js"></script> <script src="/web/20140702023035js_/http://colorofchange.org/static/js/main.js"></script> <script> $(document).ready(function onload(){ $("#tab_press a").addClass("selected"); }); </script> <script type="text/javascript"> var _gaq = _gaq || []; _gaq.push(['_setAccount', 'UA-18073459-4']); _gaq.push(['_setDomainName', '.colorofchange.org']); _gaq.push(['_setAllowHash', false]); _gaq.push(['_trackPageview']); (function() { var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true; ga.src = ('https:' == document.location.protocol ? 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