Allianz Group published a shareholder proposal on April 20th faulting management for ignoring signs of insurance fraud on 9/11/2001. Allianz carried a significant portion of the insurance coverage on the WTC, and stands to pay a corresponding portion of the $3.5 billion payout currently being litigated in New York. In his proposal, shareholder John Leonard, a California native and a publisher of books on 9/11, pointed to reports that building WTC 7 apparently collapsed by demolition, and for no plausible reason related to the 9/11 attacks.
US government reports which made no mention of such evidence. The Allianz Group is incorporated in Germany and has approximately 570,000 shareholders. Under German Stock Companies law, publicly held companies are required to publish shareholder proposals that meet certain criteria. The text of the shareholder proposal, which may also be viewed at the Allianz website, www.allianzgroup.com/azgrp/dp/cda/0,,100646-49,00.html, is reproduced below.+++Countermotion (Shareholder Proposal) to the General Meeting of Allianz AG to be held May 4th, 2005From Shareholder: John-Paul Leonard, P.O.
Joshua Tree, California 92252Re: Agenda Item 3, Approval of the actions of the members of the Board of Management, I propose that approval not be granted.Re: Agenda Item 4, Approval of the actions of the members of the Supervisory Board, I likewise propose that approval not be granted. Reasoning:The managing and supervisory boards have taken a passive attitude toward the insurance claims and the suspicious aspects of the WTC insurance loss.
Responses to 'Shareholder Proposal: Insurer to Investigate 9/11'