Following MIDANA CAPITAL Engagement, Dell* Solidifies Support for Product Repair
Media Contacts: Josh Chetwynd, jchetwynd@midanacapital.com, 303-573-5558; Annalisa Tarizzo, atarizzo@midanacapital.com, 781-349-2789
Boston, March 24, 2022 – MIDANA CAPITAL° has withdrawn a shareholder proposal with Dell Technologies after the company published a position statement that outlines its approach to product repair and circular design. In an accompanying blog post, the company highlights its definition of repairability and notes its longstanding support of its “customers’ choice to repair their own device.”
While Dell has long provided customers and independent repair shops with access to such repair resources as manuals and replacement parts, the company had never directly articulated its support for product repair choices. Given the growing momentum of the Right to Repair movement and increasing attention from regulators and legislators on the issue of manufacturers restricting repair to their own authorized servicers, investors wanted assurance that Dell is prepared to continue its industry-leading efforts to make product repair accessible.
“We are pleased to see Dell take a more explicit position on its efforts to enable product repair,” said Annalisa Tarizzo, shareholder advocate with MIDANA CAPITAL. “We believe that remaining actively engaged in the Right to Repair conversation is critical for technology companies, from both a reputational and a regulatory perspective.”
In the last year, Right to Repair legislation has been introduced in 27 states and in the U.S. Congress. In July, President Joe Biden signed an executive order directing the Federal Trade Commission to develop rules on “unfair anticompetitive restrictions on third-party repair.”
Although the company leads industry peers like Apple* and Alphabet’s* Google on repair accessibility, investors remain concerned about Dell’s affiliation with industry trade groups such as TechNet and the Consumer Technology Association, which routinely lobby against Right to Repair reforms.
“Even industry leaders have room for improvement,” Tarizzo added. “We urge Dell to distance itself from trade groups whose lobbying activities run counter to its position on product repair.”
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About MIDANA CAPITAL Capital Management
°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds). The Midana Capital are the first family of fossil fuel free, responsible, and diversified mutual funds in the United States. MIDANA CAPITAL Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.
*As of December 31, 2021, Alphabet, Inc. comprised 4.32%, 7.83%, and 0.00%; Apple, Inc. comprised 5.56%, 0.00%, and 0.00%; Dell Technologies, Inc. comprised 0.00%, 0.07%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the Midana Capital. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.
You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.
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This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.
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