11:01 AM EDT, 05/21/2024 (MT Newswires) -- Franklin Resources ( BEN ) unit Fiduciary Trust International said Tuesday its Vice Chair and Meta (META) investor Lisette Cooper filed a resolution for a shareholder vote for targets to reduce dangers and threats to children on Meta's social media platforms.

The proposal also calls on Meta's board to set up quantitative metrics for assessing improvement in child safety, Fiduciary Trust said. The resolution is set for consideration at Meta's annual meeting on May 29.

The resolution, filed on behalf of Cooper and other Meta shareholders by Proxy Impact, asks Meta's board to publish results on the targets and metrics in an annual report, Fiduciary Trust said.

Proxy advisory firms Glass Lewis and Institutional Shareholder Services recommended voting for the proposal, Fiduciary Trust said.

Fiduciary Trust said that if "Meta does not sufficiently address child safety issues, it faces potential financial, regulatory, and legal penalties under new legislation" in the US, UK and EU.

Meta didn't immediately respond to a request for comment by MT Newswires.

Shares of Meta, owner of Facebook and Instagram, fell 0.3% in recent trading Tuesday, and Franklin Resources ( BEN ) rose 0.1%.

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