Strategic Organizing Center Withdraws Director Nominees For Starbucks Board

(RTTNews) - The Strategic Organizing Center or SOC, a shareholder of Starbucks Corp. (SBUX), Tuesday announced its decision to withdraw nominees for the Director position at the food chain giant's board.

SOC said the decision was made to allow the company to focus on upholding its new commitments to workers and enhancing value for shareholders.

Last week, Starbucks and Workers United reached collective bargaining agreements for represented stores and partners, the resolution of litigation, and a fair process for workers to organize, putting an end to a two-year long stand-off between the two parties caused by the SOC's nominations.

Currently, Starbucks's stock is trading at $91.82, down 0.69 percent on the Nasdaq.