Apple Loses First-of-its-Kind Bid to Block Human Rights Proposal

Apple Inc. lost a first-of-its-kind bid to block an investor request for a new board committee focused on human rights.

The proposal will go to a shareholder vote after a Dec. 21 letter from the Securities and Exchange Commission disagreed with the iPhone maker’s argument that a concern for human rights is so central to its day-to-day business that it shouldn’t be on the ballot.

In making that argument, Apple was the first company to test out recent guidance from the SEC’s staff seeking more board involvement in determining which proposals should go to a vote.

Apple’s take on the ...