CWA Drops AT&T Suit

April 11, 2001 ( - CWA has agreed to withdraw the lawsuit filed jointly with the AFL-CIO and Amalgamated Bank, against AT&T.

The suit sought to block AT&T from amending its charter to require only a majority vote of shareholders rather than a two-thirds majority, to approve certain proposals. This amendment is in keeping with shareowner voting procedures at most companies.

The parties agreed to continue working together to provide union members with increased access to opportunities in the company, as it is restructured into four businesses that will become publicly-held companies.

– Camilla Klein                       

For MORE see Investors Criticize AT&T Breakup